Hedging a short UVXY position over the summer. How best?

Take a look at the August 19th, 2022 35/28/14 broken wing butterfly. Twenty or so of these should do.

 

i'd be very careful doing this in a bear market

 

Oh my…

 

What am I missing here in terms of a hedge?

 

Some thoughts: None ideal.

With TOS, you can place a GTC contingent order to enter a trade (say purchase 17 25 strike Aug Calls) IFF UVXY price > (computed moving threshold), to capture the beginning of a vol spike event. -- This is an approach to placing a Just In Time hedging trade.
I did this (GTC conditional contingent orders for protecting my UVXY short positions).