I do understand your OP.
Your theory doesn't apply to twtr, though. The stock won't go up or down much, despite the market's path until earnings in february.
http://www.optionsprofitcalculator.com/calculator/long-call.html
^ is a good tool to use to get a better understanding of options. It can get buggy sometimes. 90% of the time it works.
BBY call options are verrryyy cheap.
15th Jan 2016 $40.00 call @1.99
Returns would be 1300%-1700% if BBY goes to $36 by December 2015.
Waiting on AMZN, TGT, WMT to report earnings to see how BBY did compared to competition. Good gamble?
This correction is good for the market. It means it can climb higher over the next 2 years.
The main thing dragging it down is the selling off based on china fears. Might see gold break 1300 before this mini panic is over.