FXI crazy position

One of my wilder trades (that’s saying a lot! LOL)

1. Owned stock at a 38 basis covered with 38 strike calls hoping to get out at even.
2. Stock did not get called away and I noticed how Russia (RSX) was acting with a possible war and sanctions.
3. With China and Taiwan figured that could be next and FXI turn into another RSX.
4. With FXI up near 35-36 sold April monthly 25 strike calls for 10.50 credit for max downside help.
5. Also bought May monthly 25 strike puts @ .16 for additional worse case protection.

Short calls at 25 with basis now of 27.50. As the stock drops hoping the long puts will make up that difference. I’ll either get out at near even or hang onto stock at an incredible basis.

Definitely risky going that bearish but if RSX is any indication FXI could be headed for a similar fate…

EDIT: The overall position is actually slightly net short for now. As FXI gets closer to 25 that will gradually get more neutral.