Our most recent S&P 500 (SPX) hedges — the SPX Aug Week One (8/7) 2800 Put and the SPX Aug Week One (8/7) 2800/2750 Put Spread — are on track to expire worthless tomorrow, so I am recommending new defensive positions.
We will continue to track them as ongoing positions, but you can initiate one of these hedges even if you were not in a previous one.
If you are new to this kind of hedging, please check out my Coaching Session on Hedging Your Portfolio.
Current Index Price: 3,331.16
SPX Put
Cash in Hand: $33.10
Action: Buy to open the SPX Aug Week Four (8/28) 3000 Put for around $8
New Cash in Hand: $25.10
SPX Bear Put Spread
Cash in Hand: $13.15
Action:
- Buy to open the SPX Aug Week Four (8/28) 3000 Put for around $8
- Sell to open the SPX Aug Week Four (8/28) 2950 Put for around $6.20
- Set initial debit limit at $1.80
New Cash in Hand: $11.35