US indices moved up again overnight. It seems being the pattern of the last few days. Up at night and sold off by end of the day. My plan is still deleverage. I will do the following:
1. Roll over spreads with separate orders after unsuccessful of combo yesterday;
2. Look at closing the long leg first and then buy lower spreads to compensate the losses;
3. Buy short dated puts to increase margin or above the losing legs to make it a bear put;
First work on the positions of expiring this week in all 4 of my accounts.
It was another wild day for sure. I am so glad I asked the Yahoo group about rollover spreads last night. The responses gave me different thinking and approach to tackle my problem of rollover credit spreads. Thanks to the 3+% rally of the last hour today most of my positions expiring this week were closed except 2 which I will deal with them tomorrow.
The problem is not over yet. But I will deal with them with a calm and rational approach. A lots has been learned. The key is size and risk management especially before any entry.
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