I strongly considered un-hedging my portfolio’s last night, and really wish that I had. I’ve gone short the SPY(134.54 +1.86) with Sept 72 PUTS and I’ve un-hedged the FXP(22.06 -0.68) positions. Substantial profits have been locked in, I’ll update the portfolio (which is horribly out of date) tonight when I get back from class.
If FXP(22.06 -0.68) gets below about 31, I’ll sell off the calls and take my gains. Otherwise, my sell orders for 85 or so are still in play. If the bottom falls out again; which I feel is a strong possibility, these will be fantastic plays that paid out twice.
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