European market reacted positively on Dradi's comments after the sell off on the day of ECB stimulus announcement. DAX and CAC went up 3+% following the 2% sell off on prior day. SPX and RUT gaped up following futures overnight surge. It was a trending day that squeezed shorts. SPX and RUT closed 1.6-2.2% on the high of the day. We may see a follow through on Monday based on the strong closing.
My bear call positions were under pressures too. I was expecting a pull back during the last couple of hours of trading. But it didn't happen. I didn't have two different scenarios for the later surge. I did hold off my trades for the time frame I planed. My RUT 1080 call looked safe until it got crossed after mid day. I had an order to close it at $15 then I moved it to $10 yesterday. I was trying to save a dime but ended losing more than a dollar. This habit has not served me well at all. I ended up to take $570 loss to roll it up. Although I collected some premiums but it carried margin which I needed to reduce my risk. There were 8 trades across my accounts. I sold some call spreads for April 3 and rolled my RUT ITM position in the last 60 min before closing. I had to come up many different order combinations to rollover. One thing I have learned it that calls and puts in a rollover order is easier to get filled. Finally the RUT 1060 puts which was ITM in ET is expired and off my book now.
Risk factors worsened due to the surge and I closed less bear call positions. Net liq is down over 10K and margin ratio is below 30% as of closing. I have to buy more calls and roll out ITM positions to bring the measures up on Monday.
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