The major indexes gapped down while Asia and Europea were in retreat. Buyers tried to lift the market but couldn't close the morning gaps. All the majors closed in the lower part of the day. There hasn't been a two-day in a raw of losing streak for a while. I don't expect this selloff will last long since the earnings high light is still ahead, the infostructure plan just been announced. The fed announcement tomorrow may put a weight on market for a short time.
Made 16 trades. Most of them were for my clients. Sold more March bull puts in RUT and SPX. Tried DIA for the first time with risk reversal to the long calls. Rolled out some near expiring small cars. They are more vulnerable to the pullback. I still couldn't make my risk reversal trade in RUT and SPX. They require too much of margin for now. Also, I am glad I practiced patience last week in the reverse order. Otherwise, I could have sited on some sizeable losses. Now I may have to wait for a confirmation of turns. I need to find a better way to hedge my puts more effectively.
Net liq didn't improve with the selloff. I assume it's due to the stocks and my ITM puts. Margin ratio is above 50% and looks OK for this week's expiry.
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