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
