The Artist Formerly Known as chiggins.
and Jayz canceled his CNBC appearance after Sens scored in OT
That's almost exactly what I was looking at. I was pondering SPY 280 puts for around that timeframe. I've done so well on my US account that I don't mind putting a decent amount of profits into something like that. Because honestly... I think at some point those will pay. Between those and my cash I think I'd feel a lot more comfortable with this whole ridiculousness.My hedging is a little convoluted; so not sure how helpful this will be:
I hedge on both the short and long term.
ie on Friday I bought a slug of SPY 388P at .50, sold a 1/3 chunk at .90 at the close and probably will close out the rest this am for $2. I buy these short term instruments to keep my folio from slipping too much from all time highs. It also allows me to be aggressive...
On the long term, I am holding SPY 300 puts that expire June 2022...so they have 15 months of time value. Those are trading for 16.75...which is what I paid for them a few months ago....because they have so much time value, they don't move much if the market bounces around without much oomph.
but those puts are there to protect my folio from a protracted correction....a 20% correction would see them more than double.
Lost support but yes, I'm going to add more soon. Still not quite at the position size I was at this morning. I love seeing a rapid flush on a name that is looking extremlyyyyyy cheap right now.Added more VEXT, 1.21. A touch more than my 1.23 buy. Added some of the CURA that I sold on Friday at 20.49 as well.