It was a wider ranged choppy season. Market explored up and down and ended slightly to the downside. SPX closed right at 2100 and on the upper side of its current CHVA. However there is a possible HS on daily forming. It's all depending on the job report and how trades interpret it. My guess is there is still enough time for SPX to make a new high before Fed's December meeting and possible rate hike. Santa's rally may come early and end early this year.
No matter what directions tomorrow's report may take I have to rollover all of my ITM calls. I will try to deleverage through closing some calls. I will close or reduce the three 2100 calls and buy some FOTM long calls for next week. My current positions made me very frustrated. I must stick to the end and let the math work. Watch out for my size and risk.
Had only one trade today. I closed the expiring 1990x3 puts after cash closed. My purpose was to reduce the exposure fee and leverage. It turned the margin to the call side again and reduce the available fund by about 9K. I will add couple more puts tomorrow to change the scale.
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