Market made attempts to go high this morning right off the gate. They all met sellers at resistant levels except NASDAQ. RUT went into negative territory briefly. SPX and RUT closed up less than 0.2%. The interesting point is that VIX continued to move up while SPX and RUT recovered. VIX April futures is above 15 and higher than May's price. It may be indicating a short term vol. Either market will drop in near term or VIX has to pull back. Something has to give soon.
Made 6 trades today. Sold couple May 2 bear call spreads for clients to form IC 2 for their positions. Luckily RUT dropped after I sold them. I didn't collect any premiums for my account. I rolled a set of SPY protective calls with RR. Bought a RUT call to reduce this week's margin.
Net liq is above safety level. Margin ratio is fair after my hedge today. I will have to start to work on hedges for next week in next couple of days since this is a short trading week for Easter.
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