Market continued inching up. Dow and RUT already made new highs. SPX is less than 10 points away to make its all time high while NASDAQ is 140 points behind. It's more and more like the pattern of Britexit now.
My portfolio is under further pressure as the melt up continues. I made about 25 trades for the last three days. More than a half of them were rollovers in different combinations. Of these under water positions in RUT, IWM and SPY, luckily my protective long calls made money to offset my losses for the rollovers. But the number of such long calls are running out. I was able to close some put positions then it switched margin to the call side. I will have mid week rollover for SPY tomorrow. Expect the indices to squeeze up.
Risk profile is mixed in comparison with last Aug. Net liq is down near 25% to 143K in a week of time while gross position value increased about the same amount. This is not good for option selling strategy. I am just waiting for couple of down days to give me some relief. Fortunately I am still collecting premiums on each trade. Margin ratio is still above 50% most of time. It closed at 55% today which leave me some room to breath and roll some positions around. I will continue to hedge the call side and deal with my risk day by day.
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