So my SPY position is below the 0 line but as I mentioned earlier I’m not going to sell it.
You have to follow that rule more literally when you’re day trading with tons of margin. I don’t believe this trade is a lost cause and I’m not in any danger of blowing my account (the way I might be if I was heavily leveraged with ES, for example).
As of close today:
Hedge: approx $4,830.70
The hedge lessens the loss so I’m not really down $10,000 at the moment.