Needing some portfolio protection, especially in this market. I bought to open 1 June 12 SSO Put for $.55 and paid $57.95 after commissions. I'm not sure how much protection this will offer me, or how good it will fare against another market downturn, but an imperfect hedge is better than none at all.
I placed the $.55 order around 10 am, and it filled about an hour later. The market was really range bound at this point, and I didn't think this would get filled today. I'm glad it did as the S&P finished down a little on the day and I needed to grab at least a little protection as I look for another April option to trade on.
My XSP 61 and DIG 14 puts are about to expire worthless. Those will be my first profitable trades. Hope I didn't just jinx them...
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