Indexes broke out to the upside with ADP new job report and a day before NFPR. I found that the two report were not often correlated. Not sure if this will be another buy on the rumor and sell on the news event. SPX is firmly holding its new range after after 2430 high made today. RUT thrust 1.88% breaking through prior resistance and closed above its current balance area. We may see it break into the higher balance area with a gap up on the expected better NFPR. Is it going to make new highs following the other major indexes in the near term? Be prepared for it.
Made 9 trades today. Sold 3 RUT bear call spreads for late July. Rolled up RUT 1350 call for this week. Some hedges and exit orders were filled. No call hedges wee filled due to the surge. I will do it tomorrow. My risk reversal of SPY, IWM and QQQ were well timed when I made them during the down days. Most of them for the next couple of weeks are profitable. Too bad I don't have room to sell puts without paying the excessive fees now.
Net liq took a big hit, down 17.8K. I am so glad the RUT 1390 was out yesterday at 0.40 and released some margin pressure. It got in the money today as RUT closed at 1396. I made a right decision this morning by not split the 1350 into two bear calls which would have cost me another 10K margin and got one more bear call ITM. I have two SPX deep ITM 2270 in ET must rolled out tomorrow.
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