Overlay · Hedge
VIX
VIX
Plan
- Cut
- End of October if still under 18.
- Take profit
- No price TP. If 20 hasn’t printed by end of October, sell the stub.
- 3× Dec $28C @ $1.80, $540. Spot ~15.
- Cut: calendar — end of October if still under 18.
- If 20 hasn’t printed by then, sell what’s left.
The take
Three Dec $28s for $540. That is the correct size for a crisis stub. It is not a portfolio hedge. Spot 15 does not get to 28 without a real break.
No price stop. Time-stop end of October if nothing has printed 20. Carrying 15-vol into December is paying theta for a story.
Expression
- 3× Dec ’26 $28C @ $1.8
$540 cost · 115d
Tape
Marking…
Stop
No price stop — time stop end of October if still under 18
Spot ~15, strike 28. A 20-print is a tease; 28 is a crisis. These pay on a spike or they expire. Carrying them into December in a 15-vol regime is just decay.
Outlook
- Vol event / any 20+ printOpen · before expiry
End of October if still under 18. No price stop.
News
Quiet on this name.