Market followed through yesterday's reversal. RUT and SPX both closed up 0.7% area. They are firmly back into their ranges now. We may see the indexes to test their upper ranges before end of this week. It may range bound for awhile to build energies before break out one way or another. Keep in mind that it's still an up trend. The test below are completed for now.
Made 9 trades today. Other than 3 exit fills I hedged with IWM and SPY. Sold couple of SPX May 2 CC for clients. I don't have much room to short calls now. I am not eager to add more short calls at this level. Let the market push up to the edges of current range. It's OK if I miss it to the upside.
Net liq gave back 3.4K. Margin ratio is above 30%. I have next 3 days to add call hedges. I will try to split and exit one more RUT bear calls before end of next week.
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