The Oct job report was 271K vs 181K estimated, a big surprise to the upside. Futures sold off as the good news is bad news. It was orderly move during the RTH. ES moved with in current CHVA. Buyers stepped in during the afternoon session and recovered all the losses. VIX fall back to low 14s now. RUT actually moved up while other indices are struggling. It's leading the pack now. As I suspected bulls wanted to explore higher or new highs before the December Fed meeting.
I rolled all of my ITM calls until the end of the day. Rolling the vertical spreads were much harder with less premiums. I had to widen my spread to 8x and 3 weeks away in ET to bring in a small premium of $50. I was able to close my 2100 calls with a small profit and reduced 3 calls. The rollover brought in $2500 premiums net base on Tyler's approach. I need to understand and follow his practices closely.
My risk profile is still too high. Positions are heavy in the call side during this 5 week surge. I need to set a fixed number and ratio for my puts/calls. The leverage is at 62, twice of my allowed level. Available margin is at $24k, 16% to my NLV after this week's cushion expired. I must work to bring this levels down early next week.
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