Futures gaped up from last night's open. It looked like the market is ready to party from the get go of 2017. ES and RUT both were above 1+% mark during the 1st hr of RTH. Then sellers stepped in following CL's down turn. After hours of struggling buyers took control again pushed indexes out of negative territory. The closing was pretty strong. B bands in daily are in squeeze and MACD started to turn up as well. We may be seeing attempts of making new highs in early January. I need to figure out ways to prepare my accounts for the possibility.
Made 10 trades today. IB acct is on post expiry warning as many of my call hedges will go off by this weekend. Couple of my risk reversal ratio hedges were filled during the down turn. The risk reversal with selling puts made my margin to the put side with exposure fees. Also bought couple of RUT calls for next week. I need to get more hedges in before end of the week as my Excess liquidity is on yellow line for next week. I sold Feb 3, SPX 2360 call spreads for clients to make IC 2.
Risk profile gave back some gains of last week. Net liq lost 5.3K from slightly positive during the afternoon. The closing push up was strong. Margin ratio is down to 24% and it may get worst if we get a follow through tomorrow.
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