$Direxion Daily Semiconductors Bear 3x Shares(SOXS)$ I'm still holding this. The plan remains the same—I continue to scalp on green days with both SOXL and SOXS. Plus, I have SPY and other bullish positions that have been performing well. If I count the profits from SOXS and SOXL scalping trades, the average would be around 5.5. So no, that's not unrealistic. It will come, but as a trader, there's no need to get emotionally attached to any single position. That's why hedging is crucial.
I added SPY August 780C yesterday. I previously held September 800C, which I closed 50% around 750 and sold the rest yesterday to buy the August 780C. Considering a scenario where the market moves to the 776/790 area, those SPY calls would completely offset a significant portion of the SOXS position, as each call would be worth around 2500. As a SOXS holder, if I missed adding calls during yesterday's dip, I'd watch to see if 740/730 revisits to add a hedge. Just 10 contracts at a 5k cost could mean 25K in profit. I have about 50 of these calls.
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