It was the Black Monday almost to the day 18 years ago. DOW dropped 22.6% in one day. Be ware that Oct has a tendency of wild moves for the market. My main task is still reduce size and leverage.
Futures went down in less than 0.5% overnight. ES and RUT traded inside of last Friday's range. I will wait to see if indices break their overnight low or high and Friday's ranges to determine the direction of the market. We could see a range bound day in this bull flag pattern. I plan to exit some of my threatened bear calls expiring this week while theta decays.
Had 10 trades today. Closed on both call and puts in SPX and RUT. I made my initial margin below $100K and leverage at 34. The margin is still at call side as market continued to hold up. The margin ratio is at 45% and I have 5% more to work on. I need to get use to smaller size now.
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