Hedge against the hedge against the hedge that’s sold against my hedge. (I think)
Jan 31 expiration:
Short SPX 6010 puts against LEAPS.
SPX Bear call spreads @ 5995/6000
And now to cap the rally:
Sold SPY Jan 31 2025 595.0 Put @ 4.35
Sold SPY Jan 31 2025 600.0 Put @ 6.25
What would I like to see? Down a little without a crash. Maybe SPX 5990 at expiration. If needed I can still sell SPX put spreads aganst the call spreads. The real money is in the SPX 6010 puts though.