I'm hedging more using VIX call spreads. Other hedges is long puts in XLF and XLE. I sell puts against the position and roll put at Profit points if any or at 45-32 days. I normally use the 85 or greater Delta put.
But recently I've using VIX calls spread with no short put spread involved.
But recently I've using VIX calls spread with no short put spread involved.