Hedging my portfolio...

[TimtheEnchanter]

I have a portfolio of spyg, spyd, spyv with some covered calls. (I do not have covered calls on spyg). I am expecting a correction but I do not wish to sell. What is the best/cheapest way to protect? I am looking to buy UVXY...

 

[OptionsOptionsOptions]

I have a portfolio of spyg, spyd, spyv with some covered calls. (I do not have covered calls on spyg). I am expecting a correction but I do not wish to sell. What is the best/cheapest way to protect? I am looking to buy UVXY...

Sell

 

[longandshort]

Buy puts

 

[manic]

Sell calls and buy puts. You can also buy put spreads instead of calls.

Or, you can sell your covered calls at a higher delta and keep rolling them until the market corrects.

 

[OptionsOptionsOptions]

Buy puts

Too expensive.

 

[never2old]

I have a portfolio of spyg, spyd, spyv with some covered calls. (I do not have covered calls on spyg).

I am expecting a correction but I do not wish to sell. What is the best/cheapest way to protect?

I am looking to buy UVXY...

absolutely not and this is the reason why

https://www.splithistory.com/uvxy/

I am expecting a correction

when?

but, but ... if you can time the pop & drops, go right ahead

 

[GaryBtrader]

You could sell micro e-mini S&P contracts, one per every $20K you're trying to hedge. Direct hedge against your current positions, no drag like options.

 

[Overnight]

You could sell micro e-mini S&P contracts, one per every $20K you're trying to hedge. Direct hedge against your current positions, no drag like options.

There's no such thing as a micro e-mini. There is the full, the e-mini, and the e-micro.

Please get that correct.

 

[Jack1960]

Learn to hedge properly. Attend a seminar.

 

[OptionsOptionsOptions]

Learn to hedge properly. Attend a seminar.

• Why not post to ET?
• This is a trading forum.
• Seminars are so 1990's.