Bulls continued to run following the reversal of yesterday. Inflation and higher rates are no concerns for now. RUT, SPX gained 1% while QQQ added more than 2% at closing. But VIX didn't give up much of its ground. It's still at near 20. Both SPX and RUT crossed their 50% RT lines without much resistances. They both closed below their Fib 62% lines today. Tomorrow is stocks monthly expiration day. Bulls may push hard to maximize their profits.
Made 6 trades only today. No more selling of calls. I realized that I sold these bear calls too early yesterday. I will let the bulls run a little further before taking another stab. Rolled couple ITM QQQ long calls. These are my survived long calls. Took off couple RUT bull puts to reduce margins for my clients.
Net liq suffered 5K from this bull run today. Margin ratio is still above 60 and expect going through the weekend fine. Margin is switched to bear call side. But not much room to reverse positions to bull put either. I need to figure out something better hedge the ITM bull puts. They take up too much margin.
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