Hedge Fund/Tangled – If we have enough interest, of course people can switch but the regular hedge fund is very likely to double up or better if we recover – I'm proposing a more conservative fund for people like me, who are having to help their parents whose monthly incomes no longer cover expenses from their standard retirement accounts.  It's a lot easier for me to put $250,000 into the following spread than give my Mom $30,000 a year to subsidize her expenses:

• Buy 500 T 2022 $23 calls for $7.75 ($387,500) 
• Sell 500 T 2022 $30 calls at $3.60 ($180,000) 
• Sell 100 T 2022 $23 puts for $3 ($30,000) 
• Sell 100 T June $30 puts for $2.30 ($23,000) 
• Sell 50 T June $23 puts for $1 ($5,000) 

So that's net $149,500 out of pocket and my worst case is owning 10,000 shares of T for $23 ($230,000 – not counting the short-term puts) and I've got a $350,000 spread that's spitting out $28,000 in "dividends" for the Q so it should well cover the $7,500 my Mom needs while still a lovely investment for me that will hopefully pay 200% in 2 years.  

Of course it would be much better to have 20 diverse bets like that but it would all have to be actively manged and actively hedged so it's a case where you do want someone whose job it is to manage those trades full-time.  That's my logic to setting up a new fund – I talk to a lot of people who are trying to support their families and this is a nice solution to that problem.