If I hadn't had covered calls I would have suffered worse losses than I did. And the few Put hedges turned out to be the largest gainers, for obvious reasons.
You couldn't have convinced me that we would shut the entire country down over a virus if you had 1000 days to do so.
I learned a lesson even after all these years and having gone through H1N1, watching children die, with zero shutdowns or daily fire drills. How this time became the acceptable protocol will always be a point of interest.
I lost heavy 6 figures in initial 2 days but once I heard what was being planned I went heavy Puts and cut the loss by 2/3 in less than 2 days. I didn't get back to even (talking on losses instigated by this event) until that first bottom bounce.
But as usual hard drops present huge gain opportunities and the % net gain now versus pre-corona craziness is 18% higher ROI than I was experiencing. I would have loved to have been smart enough to appreciate what was coming and sold out with full Puts from Day 1.
You couldn't have convinced me that we would shut the entire country down over a virus if you had 1000 days to do so.
I learned a lesson even after all these years and having gone through H1N1, watching children die, with zero shutdowns or daily fire drills. How this time became the acceptable protocol will always be a point of interest.
I lost heavy 6 figures in initial 2 days but once I heard what was being planned I went heavy Puts and cut the loss by 2/3 in less than 2 days. I didn't get back to even (talking on losses instigated by this event) until that first bottom bounce.
But as usual hard drops present huge gain opportunities and the % net gain now versus pre-corona craziness is 18% higher ROI than I was experiencing. I would have loved to have been smart enough to appreciate what was coming and sold out with full Puts from Day 1.
