SPX new hedge

#RocketManHedge – A new one out to May with a more traditional put buy / sell against…

Bought SPX MAY 18 2018 2640.0 Put @ 101.20

14 weeks to run so need 7.25 to cover it. As of right now with this volatility that strike is 185 points out of the money. Not gonna give it quite that much room!


Sold SPX FEB 20 2018 2540.0 Put @ 14.10

For fun here’s the metrics on that particular put sale:

Short delta down to 2475. At that point the profit would be 27 points. That’s six percent lower from here. Will definitely help with the longs if we roll over…