My plan for today is to continue deleveraging and reduce my size of naked puts. I didn't expect ES/SPX could break 1970. It appears that the lower deck was cleared yesterday. SPX went up 1.3% and closed at 1978.
All of my 9-17's positions are closed with some level of profits which is a big relief for me. No I have to work on reduce my put positions for 9/25 and 9/30 tomorrow. No one knows what would happen on FOMC's announcement and how the market will react to it. I made 2 naked SPX puts into 1 and rolled 2 to lower prices so they may cost me less to make them into credit spread. I plan to close the low price of RUT naked put and make 1-2 SPX credit spreads.
I sold some naked calls today to hedge my puts. It made bear side heavier now in my option portfolio now. I may have to do some adjustment if we have a surge up after FOMC. I will lighten some mature bear calls tomorrow.
I finally brought the leverage below 0.5. My next target is 0.3.
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