Yes, it remains a hedge. If I win I practically lose nothing. If the market keeps rising, I win a few percent less. A lot of bearish commentators from different angles (macro, value, technical,..) have been turning. Fear was much higher a year ago.
yes yes I agree.... btw how exactly do you hedge? with puts on an amount equal to the entire size of your portfolio?
Yes more or less but I'm not very precise about it. For instance, yesterday I bought some GME puts despite being well hedged already. Generally I will lower my put position as it increases in value or add to them as they get worthless. Nothing fancy.
Despite the market drop today, my portfolio was up slightly today and GNCMA isn't making that particulary easy lately.
It's typical that this kind of market move happens exactly before I leave the country for 4 weeks. Lukily I'll sometimes have access to Wifi in case we get a decent correction.
