Futures dropped about 20 points after BOJ held its interest rate last night. It was a roller coaster ride today. Indices pushed all the way up to close their gaps. Then they sold off to make new lows of the day. It appears a reversal candle in place. For SPX and RUT they are still hanging on the low of current balance area. If we get another follow through to the down side SPX and RUT would fall back to the previous balance area or chop in the composite low volume area.
There were 11 trades today. All of my this week expiring calls were closed today. I sold a pair of RUT May 4 puts and couple set of SPY naked puts. I plan to use the SPY puts to finance the closing of 203 shorts. Margin is shifted to puts now.
Risk factors are back inline now. Margin ratio is at 60% and leverage is at 93 with 390 spy left.
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