China, Europe and crude oil contributed a big fall overnight. ES was down 40 points, -2.5% when I woke up this morning. It totally erased yesterday's gain. The globe market is in turmoil. Although US market held overnight level without falling further.
The worst part is that I left a SPX 1900/1850 CS in my IBP account when it was closed at 1920 yesterday. I am about 30 points ITM at the open, still waiting for settlement confirmation. It was a biggest mistake I made this week. I knew better to close it when I had chances to break even after regular hour yesterday. It proved once more that hold and hope is not a good strategy.
I worked on rolling SPY ITM. Increasing my margin was my main focus for the rest of day. My available fund was below $30K for awhile. I closed couple calls but left margin on the call side. I even tried to sell put to finance buying calls to hedge but didn't get filled. I will review this week's action over the weekend.
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