Market took a pause after yesterday's big sell off. Indices hoped around zero lines all day long but closed slightly down with a bearish tone. I didn't realize that my available funds were in negative territory this morning as it was fine last night. My first rollover order was rejected. I guess it was caused by more than 10 ITM small contracts expiring today. Luckily the deficit was less than 2K so I closed a SPY position. VIX was around 15. Imagining if there was a big event overnight and VIX jumped to 20-30 next morning. Then my account will be crushed. I need to reduce my size further and make sure to eliminate naked puts. Also get to spreed up my learning of new strategies. Butterfly seems require less margin.
Made 7 trades. They were rollover ITM IWM, QQQ and close SPY, IWM. Just spanning wheels to get by. There may be a better way to handle such situation and collect some premiums.
Net liq upped near 3K. I just learned that net liq may not prevent negative available funds. Need to watch out for VAR and What If figures. I may have to switch from big contracts to small ones to gain size flexibility and narrow spreads but pay more commissions.
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