Our hedges keep losing....and we are "happy" about it..because overall the market continues to rise.
Continuing with our practice of having a market hedge in place CCI rolled the March $135 - $129 put spread out and up to the April $137-$130 put spread late Wednesday. Net cost after commissions of $1.10/contract. That is the max loss. Break even at $135.90. Max gain of $5.90/contract.
"Hopefully" we will lose that again as the market continues higher. Seems like there "has" to be a pull back at some point and this relatively cheap, leveraged play provides some insurance against such an event.