Dollar up to 99 again and that's up 1% for the day so markets actually doing well against that headwind.
New hedge/JMD - I loves my TZAs, they are great movers in a crash. July $8s are $2 and the $9s are $1.40 so not really worth 0.60 for the $8s but, as a hedge, you can do the $8/9 spread for 0.40 and that pays 150% UNLESS TZA drops more than 10% (RUT up 3%) and then you can roll the $8s to a Jan bull call spread long before they drop below 0.40.
So, let's say you want to buy 1,000 shares of TASR at $22 (now $27.20), so you sell 10 the 2017 $22 puts for $4.50 ($4,500). That lets you buy 100 of the TZA July $8/9 bull call spreads for 0.40 ($4,000) and, if TZA is over $9 in July, you get $10,000 back. After that, even if TASR is assigned to you at $22,000, you still net in for $12.
