The market pulled back a little more than a half percent as the majors running into the overhead resistance levels. These are the top of their current balance areas. The fundamental reason for today's pullback was the rising bond rate nearing the magic 3%. It's often the case that fundamental related news often coincides with technical levels. Don't know if the resistance levels would hold.
Made 9 trades today. I had to roll my ITM SPX 2750 bull put since it was unlikely it will expire OTM by tomorrow. Sold some SPX bull put spreads for my clients. I am making more money for them than for myself now since I am stuck in the mud now. Have a couple of bear calls in small cars to roll or close tomorrow.
Net liq gave back 1.3K on this small pullback. The margin ratio is at 58% after I bought an SPX put hedge. My delta is slightly long but both sides are deep in the money. I expect one RUT 1510 to be off the list by end of next week.
No comments:
Post a Comment