US indices stayed below yesterday's range overnight. ES is attempting to push back to prior balance range of 1997-2015. It could explore below 1995 to 1960 and make the two small balance area into one before goes next balance area. My plan is still deleveraging my positions. I will continue to evaluate these straddles in paper trading.
Market played the pump and dump similar to yesterday. I was lucky to sell a bear call in SPX and a call spread in RUT before the dump. All of my calls for this week were closed in the other accounts. They were near ITM (2030s) for awhile but came down fast for the last couple of days. I didn't want to risk of a surprise pop although I could have canceled my orders today. I will continue to exit out my bear call spreads using this pull back.
My paper trades of straddles are not moving alone. I didn't follow the rules on the first batch of entries. I was being cute. I expected the market would go down again so I entered the first batch 10 points below the ATM price. Then market kept going up for 6% last week and left my positions upside down. I need to follow the rules and keep records of my paper trade.
No comments:
Post a Comment