I think insurance makes sense. Yesterday, indices of domestic stocks and bonds, especially stocks, sagged very noticeably. The reason is the harsh statements of D. Biden towards Russia and V. Putin, the announcement of a new package of sanctions and the threat of its expansion. The agenda turned out to be tense, but not original. Accordingly, the consensus of market participants is close to the fact that yesterday’s stock fall will be local. We are quite calm about the 2-4% decline. And I do not like it. Until recently, at the lower levels of the stock market, the reaction to such crashes was much more emotional. I think we will still get emotions when the quotes are lower.
In order to hedge, in both PRObonds portfolios, a stop order is placed to sell a futures on the Moscow Exchange index (MXI-6.21 or MIX-6.21) at 2.5% of assets in case the underlying index falls below 3,494 p.
PS. Portfolio # 2 triggered an order to partially close a short position in gold.
Graphics source: www.moex.com/