I purchased a bear put spread on SKX as a hedge against my long covered call position that was losing money in this stock. I probably should have just closed the covered call position previously instead of working all the hedges.

I was concerned about a potential down move in SKX that would further deteriorate my covered call position. I purchased enough contracts in this trade to offset any move down and actually make my overall SKX position more profitable on a move down. Although I would have preferred SKX not move down it actually ended up helping my overall portfolio.

When I entered this trade SKX was trading at $22.92. Seven days later when I took my profits it was trading at $18.93.

In 7 days I finished with a profit of $1,152.00 on a risk of $738.00. Normally this would be an awesome trade, but remember I entered this trade as a hedge. A portion of this gain went to offset losses elsewhere. Still, I improved my overall portfolio by successfully predicting this down move.

Date	Sym		Exp	Strike	Price	C	Type	Cost	Balance
10/14/16	SKX	BTO	NOV16	$23.00	-$1.52	6	Put	-$912.00	-$912.00
10/14/16	SKX	STO	NOV16	$19.00	$0.29	6	Put	$174.00	-$738.00
10/21/16	SKX	BTC	NOV16	$19.00	-$0.95	6	Put	-$570.00	-$1,308.00
10/21/16	SKX	STC	NOV16	$23.00	$4.10	6	Put	$2,460.00	$1,152.00
								Profit:	$1,152.00