The bull flag pattern of SPX and RUT played out today. It didn't shake the market when Yellen testified in Congress implying rate increase was near. RUT made another new high of 1313 today. SPX closed at 2187. It's only 7 point away from its all time high of 2193.8. We may see it to touch or break it by tomorrow. The more important is how it will close.
Made 9 trades today. I rolled 2 of SPY 2185 Cs as they were traded around. I continued to roll over my ITM RUTs. It resulted in 6K losses. I am sticking to my plan of rolling ATM and ITM positions instead of waiting for near expiration. So far I could use the protective longs to offset part of the losses. Some of the put positions were closed which help me to add more for the rollovers.
Risk profile still above my safe line. But Net liq looks ugly. It got to the lowest level of 141K. Margin ratio is down 10 points to 54%. I may have to do more hedges tomorrow. Staying small has helped me to weather the risk this time so far. However I was too concerned about the down risk and paid less attention to the upside before the election.
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