Wish I had kept my SPX hedges on. A $3 put that I had on at 2550 is now trading for $21.40-22.
Most months you never need it. Last few weeks it is almost a mega millions or power ball ticket.
Once we settle down I will always keep one of these on. Either long puts, ratio, or risk twist for times like this. Then you have a pile of cash you can deploy when the market tanks.
Options Bistro 