Yellen's speech was slightly hawkish but left plenty of room to back off. Market went through the usual three steps: drop, pop and drop more. It could be the other way around. At the end indices closed only slightly down except NQ had a small gain. Nothing was broken in terms of the current balance area.
Made 15 trades today. Sold 3 naked RUT and SPX puts into Oct 3 in Keith's style. Six exit orders were filled on both side. Sold 5 ratio hedges with 3 risk reversal twist. I made one error of ratio hedge with equal number of contracts. Luckily the SPX 2185 and 2190 bear calls were expired worthless and my size was reduced. My plan of not touching it until 2pm helped me stay calm during the volatile moves in the morning.
Risk profile stand well for the expiration weekend thanks to the downside shift and added hedges in puts. My portfolio has turned into profit of 10K again. Next week I should realized some of the fruit. I need to continue to enforce my rule of avoid letting positions slip ITM. otherwise it's very hard to roll deep ITM positions.
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