Index futures down 5% before mid night when Trump appeared winning the election. I heard it on radio on the way back after dropped Alissa off in Clemson. I tried to trade ES CS and Strangles but ES was limit down already. No prices could be entered below the limit price. I didn't have a clear strategy. In hide sight I am glade I couldn't do it. The market pulled back slightly below the day's closing. Recovered almost 4 of the 5%. Then SPX and RUT advanced 1 and 3% respectively before closing. Over all it was a 6-8% round trip in the last 24 hrs. SPX and RUT are firmly in the higher part of their previous balance area.
I made 4 trades on the Election day which was a choppy day. I closed couple positions on call side and entered ratio hedges in both side of SPX. Followed my plan well. There were 7 trades today. 3 of my RUT & SPX puts were closed due to the surge. 2 of the SPY & IWM long calls were filled for more than 100% gains. My SPY 115 call expiring today looked safe in the morning then it was squeezed by noon. It was pushed ITM before my action plan starting by 2pm. I had to make 3 different trades to roll it out with less premiums. In a sense I followed my plan of what time to execute.
Risk profile fall below boarder line slightly due to today's surge. I am still heavy on call side. Net liq is down 10K and gross position is up 8K. Margin ratio is at 47.5%. I think I have survived the down side risk of this election. The risk is now on the call side. The Christmas rally may be starting from the end of election, along with some pull backs. I need to plan my trades accordingly.
No comments:
Post a Comment