It was a gap up open from the futures last night. I thought we might see a trending day back to the lows of prior balance area. Before lunch sellers stepped in and pushed SPX and RUT back down to b/o and slight up. However both SPX and RUT closed above last week's closing. I don't know how much does it mean. It's all about Fed now. We may see more re positioning tomorrow. I plan to place more hedge on calls and reduce size on puts tomorrow. I will wait to add new positions until FOMC announcement.
Made five trades today. Closed four positions and sold one SPX put to pay for these closing cost. No premiums collected for the 2nd day. My positions are still over leveraged with only 40% available margins. I started to look for other assets, such as stocks, ETFs for trading opportunities and reducing sizes. So far nothing has penned out yet.
Risk profile lightened some after Friday's expiration. Margin is still on the call side with some in the money and near the money calls. Margin rate is at 40% but net liq is down to 182K.
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