So I can cash out in both directions. I can't predict price. Right now I'm just in a less than optimal place in that I'm still in the short position while the long position is in the money. I should've closed the short position when I was up around $5,000, but I ended up moving and being away from my computer for a few days while we had a rally. lol.
Yeah but the net effect is still a directional bet, just a smaller size. Why not just put on the smaller size bet and pay less commission?
Mentally, I'm not treating it as a directional bet. I'm treating it as two separate things. Also, I don't usually enter both positions at the same time, which would make adjusting position size more logical (eg. instead of going long 2 and short 1, just go long 1). I understand your point, however.
closed out half the hedge just now @ 41.55 for $1,223.60. 7/29 @ 9:55am CST: SPY: -$4,788 remaining hedge: $1,231.65 Net: -$3,553.35 (unrealized) + $1,223.60 (realized) -------------- -$2,329.75
In OEC it's easy to turn a level off in the fibs -- 1) Double click on fibs to get properties 2) In the colors area, click drop down arrow, go to tab that says Web, scroll at the way to the top of the colors and change to 'Transparent' 3) Save as default to have it this way every time you draw That should do it. Repeat for any other levels or in any indicator to remove the color from plotting.