SPX

#RocketManHedge – Still leaving plenty of downside room…core position is a May 2640 long put…

Bought to Close SPX FEB 23 2018 2575.0 Put @ 1.40 (sold for 7.25)

Sold SPX MAR 2 2018 2640.0 Put @ 11.40

SPX

#RocketManHedge – Leaving plenty of downside protection while still collecting enough premium to cover the cost of the hedge…

Bought to Close SPX FEB 20 2018 2540.0 Put @ 1.85 (sold for 14.10)

Sold SPX FEB 23 2018 2575.0 Put @ 7.25

SPX new hedge

#RocketManHedge – A new one out to May with a more traditional put buy / sell against…

Bought SPX MAY 18 2018 2640.0 Put @ 101.20

14 weeks to run so need 7.25 to cover it. As of right now with this volatility that strike is 185 points out of the money. Not gonna give it quite that much room!

So:

Sold SPX FEB 20 2018 2540.0 Put @ 14.10

For fun here’s the metrics on that particular put sale:

Short delta down to 2475. At that point the profit would be 27 points. That’s six percent lower from here. Will definitely help with the longs if we roll over…

SPX complete reset…

#RocketManHedge – Had two of these running…one that had become long deltas on the selloff and one where I had rolled the weekly sale out to Dec to give it room. Clearing both out with profits and starting fresh in May with long puts only and a conservative weekly sale against. Put premium is up but it works both ways. Weekly sales are juicy allowing more downside room to run…

Hedge #1

Closed March 2670/2670/2675 synthetic short
Closed March 2725 put (that was the big profit blocker)

Collected a lot of weekly premium and all said and done made 20 points

Hedge #2

Closed April 2800/2800/2810 synthetic short
Closed Dec 2500 put (too slow to get it out of the way or could’ve been big)

Collected a lot of weekly premium and all said and done made 17 points

Kinda disappointed in how I traded it but still winners…

SPX

#RocketManHedge – Let’s see if this works…rolling my weekly out to end of year and low as possible. Let the hedge ride as long as we are below the 50ma. When it recovers above the 50ma book the big profit on the hedge and start selling calls against the short LEAP put. Position size is what allows this…April hedge is up 85 points with the weekly cleared out…

Rolled this week’s short put to SPX DEC 31 2018 2500.0 Put @ 2.20 credit

SPX

#RocketManHedge – Easing the weekly down for now picking up another 6.40 of downside…

Rolled SPX FEB 2 2018 2820.0 Put to FEB 7 2018 2815.0 Put @ 1.40 credit

SPX

#RocketManHedge – Great market for these…double dip selling Friday.

Bought to Close SPX JAN 31 2018 2820.0 Put @ 0.30 (sold for 5.00)

Sold SPX FEB 2 2018 2820.0 Put @ 7.00