#SyntheticShortStock – Carrying synthetic short stock and selling puts against it. If we have a huge implosion and my puts get trapped I might want to take the profits on the synthetic short. To do that I’m adding a couple long puts while they are still cheap. That way I can book the synthetic short stock and leave the short puts and continue rolling them until they recover without them being completely naked.

Bought SPX Dec 19 2025 1000.0 Put @ 4.10
Bought SPX Dec 18 2026 1000.0 Put @ 5.00