Friday, April 7, 2017

A Resilient Market 4-7-17

NFP report released this morning was 96K new jobs v.s. 185K expected. I don't know which one is closer to the truth. The previous months' figures were revised down as well. Market didn't react to the news too badly which already recovered from the sell off of the missile strikes of Syria. Bulls shrugged off the bad news. Indexes chopped all day and closed flat for this Friday. I was anticipating a sell off before closing before the weekend.

Made 4 trades today. I wasn't able to exit the RUT 1360 bear call as the price stayed above it most of the day and closed at 1364.5. I had to roll it to next but raised it 1380 with help of a put at 1310. The roll up may not be far enough. If the market won't go down under such pressure it then may go to explore the upside. Made 2 SPY risk reversal for 4-3 wk to hedge some call margins. Sold a naked SPX 5-2 put for a client.

Neg liq recovered 2.3K. It's better than a loss. Margin is projected fine over the weekend expiration. Let's see what the market will do next week.

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