Just a quick note, I had some expirations but managed to roll all of them for more cash so they are all next week now. The last move like this in Aug. 2015 crushed (and I mean wiped out) a major trading account. Today my main trading account only down about $500, the hedges worked well.
See you can teach old dogs new tricks and thanks to everyone here for showing me some additional tactics that help on days like today.
Everyone have a good weekend, looking forward to Sunday night opening. Either way have some trades lined up and kept some cash on the side lines so I can take advantage of the blood in the street 🙂
Technically what only a 2-3% drop? Technically 2.31% on SPX/ES.
Cue the chicken, I am glad I closed the /ES strangle this morning. Not ITM but the margin would have used up my cash cushion for next week.