For whatever the reason I forgot to enter my journal last Friday. Maybe because of the less than expected NFP caused the market to surge. It was the same theme that the bad news is good news for the market. I know I rolled all of my ITM calls. Now I remember that I had to go to Anderson to register June's car and change my driver's license so I rolled over all the positions before 1pm.
Had 10 trades last Friday and 3 trades today. No premiums collected today. Closed a SPX put and sold 2 RUT ratio puts. I bought a set of risk reversal of IWM as experiment of a directional play. I bought next week IWM 125 call and sold 120 puts in 3:1 ratio to finance the trade partially. I expect the break up to continue so that I take advantage of the directional movement. If IWM drops quickly I may loss on both trade. I need to learn a different strategy to play directional market.
Risk profile stayed in the same range as last Friday with a small up move. Margin is at 41%. I need to buy more OTM calls to prepare for this week's rollover and expiration. It doesn't look like most of my ITM positions will get much relief this week. I may hold until this Wednesday to start my rollovers.
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