Shifting Positioning

I have covered my SPY short and sold my deep in the money SPY puts. Instead, I bought April SPY139-134 put spreads. This protects me from a further correction but not from a complete collapse below 1340 on the S&P 500. I believe that the market should at least manage not to collapse during this seasonally strong period. On the upside I would be able to participate in a rally, should it occur in April.

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