After calculating over the weekend where this particular account stands my stock basis turned out to be 48.82. These were all synthetic stock positions that were hedged with disaster puts so all said and done the damage wasn’t horrible. I’ve since sold all the stock at 12.90.

After playing with the numbers to go synthetic, it actually works out a little better and less complicated just to buy the calls. This first purchase is equal to the stock size. I’ll add to it on any pullbacks since I’m willing to risk a little more by going double the stock size.

Bought SVXY JAN 17 2020 15.0 Calls @ 5.65

I am planning to try to sell safe calls against these to reduce overall risk. The goal will be for the profit in these to equal the stock loss and at that point decide how much longer to hold. This position is in an IRA and it’s still sitting on one last 80/80/77.5 synthetic that if exercised would lower my cost basis slightly.

I’ve got SVXY in my main account also and was much better hedged. Basis there is 30.00 with one Jan 2019 25 put still outstanding. Planning on a call buy in that account also.

My worst position is a smaller account that was unfortunately “SVXY only”. Had nothing but laddered naked puts in it. Basis there is 97.70. Still holding stock covered by 11.50 short calls. Waiting to see how those play out before adding long calls to that account.