Market started mildly up in the morning session. It caught on fire from early afternoon. SPX advanced 29 points, a 1.3% gain and closed at 2240. It blow off my 2220 and 2230 bear calls which I thought I had a good chance to close it by Friday. Now they are both ended ITM. RUT made another all time high for the 2nd day. It ended up 0.88% and closed at 1364.5. It took another position of mine ITM. Needless to say this move pushed me to the edge of a cliff.
Made 17 trades across all accounts. I sold some Jan 27 SPX 2330-2350 call spreads while assuming SPX would be up about 0.5% for the day. I was a bit early. Only one of my RUT rollover orders got filled. I have two more to do tomorrow. I was mainly focusing on hedging both sides. After the rollover in late afternoon my available funds was below 20K. Then I placed couple risk reversal calls to shore off the call side. I over did it in quantity and exposed the put side. I then rushed to buy some near term long puts to plug the put side. In the end I pull the margin back to yesterday's level. It was a temporary fix to get me by today and possibly tomorrow. The bigger problem is my net liq getting so low. I may have to close some positions and take losses for now in order to survive this crisis.
Risk profile is near a breaking point. Net liq is closed at 110K, down another 15K from yesterday. If wasn't the 10K from ET I would be in "close positions only" status today. Margin ratio is better than yesterday after I rushed to add more hedges. It may get me through by Friday if we don't have another big run tomorrow. I will add more hedges for next week before end of Friday so I don't have worry about it over the weekend. Right now the projected available funds is at 14K after Friday's expiration.
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