Market continued to trade lower in small ranges today. RUT closed down 0.24% while SPX up a fraction of 0.02%. We haven't seen a 1% drop for about 30 days again. They may go up or chop in ranges when they couldn't go down . A good sign is that MACD is about to cross to the down side. BABA and TSLA were pinning 135 and 380 on this monthly expiration day. Glad that both of my underwater positions were exited with some profit.
Made 12 trades today. Exited 3 BABA and TSLA bear calls. Started to scalp on small contracts on weekly for 2nd week. I will set some clear rules of engagement. Keep size small to avoid big draw down. I will use weekly chart and expected moves to determine my entries. My goal is just to add $50-100 per week for the scalping.
Net liq ended with a 2.8K gains. Margin ratio is healthy and good for this week's expiration. So I will have an easy weekend.
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