Market popped up to the lower boarder of previous balance area. SPX and RUT both gained about 1.4%, much stronger than anticipated. Would it be another bear trap like like January and late June? It looks like it so far. Now with Fed Sept meeting nearing we may see another surge if there is no rate hike. Trades may show their hands in next couple days.
Made 14 trades across my accts. I didn't expect the bounce would be so strong since the first couple hours was very slow. Buyers were not convinced. I was getting emotionally fear of missing opportunities to short the bounce. Also felt pressured when margin switched to puts. I made several risk reversal of selling calls to buy put hedges. It turned out to be too early. I should recognize that trading ranges are much bigger now. I also need to make clear rules for near the money rollover.
Risk profile gave up more than half of gains from last Friday. These ITM bear calls are going with any up moves. Net liq dropped about $4k while margin ratio is down to 33%. I may have to buy more calls to reduce my margin tomorrow.
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