I put on some hedges end of day Friday. I'll be honest, I entered this position when the #$VIX began to escalate suddenly in the last hour. It turned out to be some sort of anomaly. Still, I decided to keep the hedges on as insurance against my longs. Since then, I have expected to eat that insurance. Nevertheless, here is my plan. If we gap down tomorrow morning, I will most likely close the hedges. If we gap up, and we most certainly could, I will have a decision to make. I may add to them, but that remains to be seen. As of now, futures are down slightly. Nothing of substance, just rounding error. We'll see the real deal when I wake up tomorrow morning .