Market took a breath today as expected after the big sell off yesterday. The early attempts of pushing lower met with buyers. There was no major news to drive bulls and bears. SPX and RUT closed up near 0.4%. Is the selling over yet? It may be depending on news development. So far both SPX and RUT are setting on their daily trend lines. MACDs are crossed down. The up trend is still in place.
Made 4 trades today. Three of them are BABA strangles. One exited of May and two added for June. It dropped 2% initially then closed up 0.6%. It was a very strong price action after ER today. My call side may be threatened.
Net liq had a small increase despite of an up day. It may be helped by these put decays. Margin is on the put side now. I will add hedges on both side tomorrow if there is no major swings in market.
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