August volatility starts showing force today. Market sell off accelerated today. Indexes gaped down again today and couldn't get closed. NASD, RUT and SPX closed down 2%, 1.75 and 1.46% respectively. The daily lows were made by closing which is a bearish sign. VIX jumped over 30% and above 15. Daily candles are all outside of BBs. We may see a bounce or breather tomorrow if no news trip the market again. Market behaviors and sentiment changed so quickly from bullish to bearish.
Made 12 trades today. Sold some SPX Sept bull puts across managed accounts. Some IWM puts were pushed ITM. I had to roll them out and couple of them need to be dealt with tomorrow. I still couldn't get out the positions in ET due to the big sell off today. I have to close the put side before 1PM even to give back the premiums. I can't risk to let the ITM calls slip away.
Net liq got 6K boost with the wash of put side. Margin ratio is above 60% at least for tomorrow. Margin pressure is on put side now. I will have to buy hedges on put side. It will be a busy day to roll out so many positions tomorrow. Stay calm and be organized.
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