I’m short an emini with a basis of 2042.50 that’s covered by a 2020 put. This will probably get exercised this week so need to re-establish this hedge but at a much higher level. On the little bounce this morning:

SOLD /ES FEB 16 2040 CALL @ 22.75

Figuring if we get up to that level I’ll take the short position and cover it with a put to end up with a basis near 2090. By then SVXY should be rockin’…if not then I pocket a few shekels.