I'm using this as a hedge against my other long stocks which I...

I'm using this as a hedge against my other long stocks which I expect gains in the multiples of 100%. If the market craps itself the 4-10x this goes up leaves me in a similar overall position AND the means to buy stocks at >60% discounts to today's prices. This last step is where real wealth can be created. Simply because you still have the $$$ and can buy whereas others do not.

If the market does not fall I wont lose all of this money but just a good % of the hedge funds invested here.

Sleeping well meanwhile.