There are other strategies to protect long positions if you have cash or an appetite for risk, this allows you to realize the gains from holding during the entire runup.
It does require a good exit strategy for whatever hedge you choose.
It does require a good exit strategy for whatever hedge you choose.
I was thinking of buying VIX on Friday, and am kicking myself for missing out now.
[1] https://sixfigureinvesting.com/2015/10/how-does-tvix-work/