So we dropped about $420 on Friday, making for a weekly loss of $940, or almost 6%. We did not sell anything, using the early morning lows as our mark. We did add two positions, buying GLD and SLV call spreads.
In GLD we bought the October $185 call and sold a September $187 call against it, for a net cost of $248. This is the resulting P+L graph of that trade:
Then we bought the November $27 call and sold the September $27.50 call for a net of $141. This is the result of that trade.
Lastly, we took our QQQ hedge, bought back the Sept 4 $165 put and sold the Sept 11 $165 put for a credit of $179. We have about $400 in gains on that position, and will keep that in place.
Tomorrow is a wait and see day. Ideally I will be looking to trim the portfolio as things are going higher, but I will not hesitate to liquidate everything if we look to be rolling over.