Just be super super clear...

I have no idea if market will take a pause at 490-510. Probability wise, it is a high probability, but no one knows.

And I am entering the hedge because I do not want to time the market, nor to miss the run if it continues. A few small premium here paid to cover the hedge is far less than the swing trade profit, and already part of the plan since many weeks ago.

How you want to handle the current situation need to be planned based on your own porfolio. Have a understanding of market movement is one thing, plan for that movement is a complete different thing. Dont blindly follow other people.