Browse Stacks: Trading Instruments: C34D629C-88F0-426C-8FF6-2A6FA0943938.png
VXX put spreads hedged with short call spreads. Manage at 50%, max loss 50% risked
Looks reasonable - might try that in addition to SVXY longs the gift that keeps giving. Tired from doing some concrete work today - will let the pros do the rest.
Actually this is not a hedged strategy, it is a "short risk reversal" or "Super Bear"