Our most recent S&P 500 (SPX) hedges — the SPX Sep Monthly (9/18) 2950 Put and the SPX Sep Monthly (9/18) 3050/3000 Bear 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: 3,336.90

SPX Put

Cash in Hand: $24.20

Action: Buy to open the SPX Oct Week Two (10/9) 2850 Put for around $6.75

New Cash in Hand: $17.45

SPX Bear Put Spread

Cash in Hand: $10.20

Action:

• Buy to open the SPX Oct Week Two (10/9) 2850 Put for around $6.75
• Sell to open the SPX Oct Week Two (10/9) 2800 Put for around $5.55
• Set initial debit limit at $1.20

New Cash in Hand: $9