To my surprise it was a drive up day. We didn't see any meaningful swing or pull back even before Fed Minutes release. The reaction immediately after Fed release was wait then pop. It appears no fear of rate hike anymore. SPX and RUT logged 1.6% and 1.58% respectively. ES is back to composite VPOC of 2080 now. There may be more upside of the holiday rally.
Today's move made more of my calls ITM. My plan was to take off positions on both side. I was only able to take one RUT call out and couple of puts expiring tomorrow. I added more longs of next week to reduce margin and prepare for rollover. It was a day of frustration and indecision. I didn't have an exit plan for different scenarios. I thought it was a choppy or down day since market was at an inflecting point. When market didn't play out my scenarios I didn't have a plan to adapt to it. Now couple of promising call positions are ITM. I have to roll out more calls tomorrow and take less profit. I overloaded SPY calls and they are all in the money now. I will have to roll them out on Friday and reduce my number of calls.
I have to be decisive exiting my positions tomorrow. Set my target and don't worry about what's the best prices I can get.
Risk numbers improved except leverage went up 0.5 point to 3.5 again. I should have enough fund to roll out my ITM positions with $57K available funds.
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