Portfolio Armor

An easy way to find the least expensive options to hedge. I like the new feature that lets you chose different expiration dates and compare the annualized cost.

Purchased app today. Had numerous questions on how to best utilize it. PA representative, David P. took the time to walk me through and answer all my questions, and after hours I might add. Great service.

Enter the symbol, the share count, and the level of protection in percent drawdown or absolute lowest price, get the kind and count of puts to buy. It provides the best buy for odd lots as well as rounds, unless it cannot. Unfortunately, finding optimal puts for tight protection (10% or lower drawdown) seems almost impossible, even with the VIX at 17 as I write this. Also, optimal puts seem to be rather too close in time for comfort. Paying 12% for six months' protection from a 20% drawdown (worst case I saw) doesn't make me feel comfortable. It doesn't do fractional shares or lots under 100. Wish I could input the price I'd be wiling to pay, rather than max drawdown. Wish the help text for the drawdown field were not obscured by the keyboard. Keep these points in mind before you buy to ensure that the app fits your purposes. Perhaps better for the institutional investor than the individual hedger.