Update

About four weeks ago when I bought those in-the-money puts on the (SPY) at $98 when the ticker was at $88, I said that as we approached S&P 1000 and I lose 100% of this hedge that I would need to liquidate in order to make the hedge make any sense. So I tried that today and did sell the JPM but the MET I got screwed on as posted earlier. So I'm OK with holding that longer term now. The (SPY) puts are actually out-of-the-money but still fetching $1 for 4 days of time value, so I'll look to sell those for whatever they are worth on Tuesday as there is nothing left to hedge and that value will go to zero in 4 days. It's going to be a $5000 loss, but the two positions (JPM/MET) went up in value much more than $5000 during that 100 point move in the S&P. However, since I'm not actually liquidating the MET position, I have to look at this as a partial failure and waste of money on the hedge since I'll be carrying future risk still. Live and learn. Just wanted to share.