You're getting good at the right time. My SPY puts for that date and strike are averaged at 3. I first bought in at 4.24 and have been averaging down. This is the key to hedging with puts. Start nibbling at first sign of weakness and slowly ramp up.
I have about 10% of my portfolio in volatility and hedge instruments. Once I get through AAPL and XL, I will play few options except for selling premium. Cash will be healthy and I'll be scanning for massive C&H upside.
When, not if, we have our correction, I and many others here will be smiling on the way down and back up.
Beautiful part of CLOV and WWR (seems to be our two biggest plays across this board) is that I don't foresee a huge draw down on them like you would see in your Big Tech, Big Pharma, Big Fin and Big Industrials tickers.
If they do, even better. Scoop 'em up and rocket.
I have about 10% of my portfolio in volatility and hedge instruments. Once I get through AAPL and XL, I will play few options except for selling premium. Cash will be healthy and I'll be scanning for massive C&H upside.
When, not if, we have our correction, I and many others here will be smiling on the way down and back up.
Beautiful part of CLOV and WWR (seems to be our two biggest plays across this board) is that I don't foresee a huge draw down on them like you would see in your Big Tech, Big Pharma, Big Fin and Big Industrials tickers.
If they do, even better. Scoop 'em up and rocket.