Hi, now that my SPY holding is 5%+ in green, and the Fear/Greed index is at all time high, I'm wondering if you guys have any advice to hedge the downside? Today, before the FOMC, is probably the last chance to make the move.
For context, I believe the market will continue to grow, so any dip is “transitory” and opportunity to accumulate, so my mindset is more towards (1) making additional gains during downturns and (2) use the hedge as “promo code” or “discount voucher” so that I buy some dips cheaper or sooner.
Previously I bought some SPDN (SPY 1x bear) in August when SPY was around $420, then sold in October when SPY was around $360, and used the gain from SPDN to start buying SPY (even though my target was $350, I used the SPDN gain to enter earlier, hence the “promo code” stragegy).
I have read about using options (in this case, selling puts?), but my brokerage doesn't do options and I also don't have the appetite to get assigned 100 shares at a time.
So are there other non-options ways to hedge? Thanks!
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