Thursday, November 9, 2017

Possible Tax Rate Cuts Delay 11-9-17

Futures were dragged down by European market overnight. During the usual dip buying in mid morning that Senator's tax bill proposal came out suggesting a one year delay for the corporate tax rate cut. Market sunken for more than 1% reacting to the news. Then the majors recovered more than half of their losses at closing. Buyers are still active. It's possible that indices are pulling back to set up another run up before the year end.

Made 13 trades. Rolled the RUT bear calls in ET and sold put side to cover the cost. Get to deal with the SPX bear calls tomorrow. It's going to be a tough one. Sold bull puts in SPX and RUT for the late Dec across accounts. Rolled up some ITM QQQs. Have some SPY to roll tomorrow. Bought couple put to hedge margin.

Net liq stayed about the same. Margin ratio is at 36% and Margin stayed on the put side. I am too heavy on put side now. Risk is 5% on both side.

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