先建立Put spread. If market starts to correct from here, these put will immediately provide some level of protection (ie, making profit), if market continues to rise, I may start to write June OTM covered call to cover the cost of those put premium. This sequence is important to make sure you don't write a covered call too early. For example, if I see a clear corrective pullback here and market turn around and break the high again, it would be a clear signal that bull market is back and we are going for a new ATH eventually, in that case, I will just cut the loss on the put and let the portfolio continue to ride with market. Basically, no hurry to make a decision on a covered call. This is the very important part of the hedge strategy
减仓是指把资金从SPY 挪到 momey markey, 还是从 QQQ 到 SPY？ 从 SPY 换到 其他板块？ 还是买 PUT 保护？这么简简单单一句减仓，操作的不同对账号的投资效果影响很大。
尤其对于非退休账户还有税务的问题。
退休账户没有税务问题，进出频繁还好说些。
我正在尝试对退休账户的仓位管理，对一些仓位太大，波动太大的，我会根据ATR算出的仓位进行动态调整，我在这篇文章表格的最后一列也提到：
再说风险和仓位管理
一般我会暂时放到Money market里，不过效果如何还有待验证。
反正是37%，习惯了就好。
减仓首先要减退休账户上的。 - 猛牛发表于 投资理财 - 论坛 | 文学城
啊哈哈哈。。。。。。。。。。。
一个基金，大致意思是这个基金的收益率（扣除费用后）略高于大盘2-3%，它的好处是不断地通过减仓亏损股来抵充赢利部分，这样做到税率最低化。
不去管税率了，今年某个账号长势喜人。有钱交税比亏了本金强多了。
减仓不就是要降风险吗？ 你这降的不够多啊！
啊哈哈哈。。。。。。。。。。。。。
这里有说明，也许你没看到。
我来谈谈牛市里减仓的必要性 - 猛牛发表于 投资理财 - 论坛 | 文学城
啊哈哈哈。。。。。。。。
先建立Put spread. If market starts to correct from here, these put will immediately provide some
level of protection (ie, making profit), if market continues to rise, I may start to write June OTM
covered call to cover the cost of those put premium. This sequence is important to make sure
you don't write a covered call too early. For example, if I see a clear corrective pullback here and
market turn around and break the high again, it would be a clear signal that bull market is back
and we are going for a new ATH eventually, in that case, I will just cut the loss on the put and let
the portfolio continue to ride with market. Basically, no hurry to make a decision on a covered call.
This is the very important part of the hedge strategy