Hedge Trimming

I have used the pre-market weakness to remove my hedges completely. During expiration a bunch of my longs were called away and I am left with very modest long exposure. In addition, I have already written covered calls against all my remaining longs. In other words there is little left to hedge. If the market were to fall 10% I believe I would take less than a 3% draw down. I still believe an expiration hangover is possible.

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