Buying Sep puts on IYR, as we did on May 3rd, is a hedge on the value of you home (i.e., shorting real estate sector). It's also a hedge on your TSLA shares, and any other stocks I haven't been able to persuade you to sell over the past 6-12 months. The original trade is +50% in the first three weeks, and as the chart below is forecasting, is well on its way to being up triple digits before July 4th weekend. At an IYR share value of $75 on or before Sep 16th the $100P's will be worth $25 each, about triple their current value and about 5X the original investment on May 3rd. It is an "easy on the psyche" trade where time is not of the essence meaning the market does not have to be stared at all day long to benefit from the directional bet. For more aggressive traders, double up on a market break below SPX 3,800: SPX 3,800 - Breakdown Still Pending Coming Up - Long Holiday Weekend Three days to prepare.
