Following yesterday's HOD closing SPX and RUT broke out today. They also closed to their HOD again. With the monthly options expiring tomorrow trades may pin it higher again. One of my hypotheses is that SPX may test 2100 soon. If there is no indications for rate hike in April or May we may see a new high before end of May. Then we will see the summer grind or pull backs.
I am glad I saved some bullets yesterday. There are 10 trades across my accounts. 6 of them are call spreads for later May. The rest of them are hedging positions for reducing margins. I also closed one put. I have SPX 2090, RUT 1090, 1130 and 40 to roll tomorrow. I already set exit prices for 1040 if we get a decent pull back tomorrow.
Risk factors are still inline. Net liq dropped $9K due to the price break out. Margin ratio is at 49%. I need to refrain from selling bear calls in next few days just in case there is another melt up.
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