I took on a small long (call) position on SVXY today, but hedged it with shorter-expiry puts at 2X the delta when it seemed like things were going south. In the event of termination, the calls are obviously worthless. The puts should be at max value . . . but I have a feeling I'm gonna get screwed. Am I? It's not a big number in terms of my total investment, so I could handle it all just vanishing, but it would be a pretty nice gain if the puts paid out at $0 SVXY. I just have this feeling they won't.