The futures popped up overnight and continued holding gains after opening as the trade war tension easied. QQQ led the reversal today. It closed up 3.9% while the other majors gained more than 2%. The next resistance levels would be the Fib 50, 61.8 and the breakout point for the majors. The Feb low test would be completed if these levels are breached. Keep in mind it's still a bull market.
Made 15 trades today. Rolled some ITM small car bull puts based on my rules. Sold couple of naked bear calls for the clients as I didn't expect it would be such strong reversal. I will manage the positions accordingly. I tried to reverse my SPX and RUT bull puts to bear calls in attempts to exit and reduce my position sizes if we get another leg down. But the margin requirement is too high for me to place the orders. I will see if it changes when the indices go up further tomorrow.
Net liq increased 2K mainly from the bull puts. Margin ratio is above 70% for now and it switched to the call side now. I have a RUT 1360 ITM bear call to roll for this week.
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