How my long put protection is doing.
music selection: “Bleed Like Me” — Garbage
weigh-in: 213.8 +1.4 – too much pizza!
I don’t have any trades this week so far. VXX is “close” to being ready to roll again. My target exist is 15.75 and the current bid/ask is 15.10/15.60. Otherwise, I want to review how my portfolio “insurance” is doing. This section of my portfolio did really well during the COVID-19 crash. Obviously, it is a lot harder to be ‘short’ right now.
- DRI – 980 capital at risk, 585 unrealized capital loss
- LYFT – 920 capital at risk, 195 unrealized capital gain
- PLAY – 1,110 capital at risk, 330 unrealized capital loss
- UBER – 1,184 capital at risk, 521 unrealized capital loss
- XOM – 630 capital at risk, 315 unrealized capital loss
- DAL – 1,050 capital at risk, 600 unrealized capital loss
- RAD – 1,010 capital at risk, 60 unrealized capital loss
All together, I have 6,884 in capital at risk on long dated long puts for insurance. The current P&L is 2,219 in the red. Because I’m paying for a lot of time value, these positions will mostly be losers over the long term. But they can pay out big in a market crash as I saw during mid March where I collected triple digit nominal returns on my hedges.
Devour your prey raptors!