I'm just a moderate minded investor that has another primary income. But I can tell you from experience the majority of past years loses were shorting with TVIX or UVXY. They are for short term positions better left to pro's. If I am compelled to short or hedge a cheap SPY put or SPXU works.  Plus I consider there is a current SPY long trade open.  It has taken work to loose my perma bear mentality.