I rather trade long term in terms of percentages, I never go 100% invested, but like 60% at lows of 2009, then I have extra percentage to have add-on trades. Most of the stocks give dividends and optionable. I seldom put on more than 1.5% on individual stocks/ETFs, so I prefer to think in percentages, some stocks many and others less so. I trade Dow30 and other 10 Nasdaq/ETFs. By concentrating on percentages, number of stocks I am not concerned about. As price gets deeper into trend and get more signals to add on, I will often add Debit Spreads and if market dropping, will quickly sell calls for a few days/weeks, much depends if price has no support in area.