I have decided to add put options to my portfolio for some protection. The price movement over the past week has me thinking there is a probability we are heading lower.
The week of Nov 2nd was a test of the 2015 year highs, and a failed attempt to break higher. The following weeks were a series of volatile price action with no clear direction established.
I feel in this environment it is worth the capital to hold onto some downside protection.
Visit my trade alerts page for details on this trade. Once the trade settles I will update the final cost, currently only an estimate. The price was $3.20 US / contract.