Spending money to make money

Just like I bought and sold (and rebought) puts to protect my Gold, I just bought a 15 contract put position on the S+P. I really do believe that equities are coming down. The idea is to protect my Ozzie position if it continues down, and if it rises here, I will make less on the upside because of the cost of the puts (which is limited.)

Just purchased 15 S+P June 850 puts @ 21.00 (plus comm.)= $3150. Expensive...but time to put (no pun intended) my money where my mouth is.

See put description here, and see the entire chain here.

I made plenty of profits on non-Forex trades which will pay for these puts. (I also own puts on Gold which expire in June.)

--My Sprint trade (which I closed a while ago)
--My Zion Bank trade.
--The Puts I bought (and sold) to protect my gold.