The US-China trade talk issued a statement effectively putting the trade war on hold without any specific results on Saturday morning. The market took it as a relief and rallied in futures on Sunday night. The majors gapped up this morning. RUT made another new high of 1639 while SPX toughed 2739. QQQ was knocked down a half of its gains. The summer rally is boosted by the trade talk result.
Made 8 trades today. I locked and rolled some ITM ETFs with profit. Tried to buy hedges on the call side but no fills. My near-term bull puts are likely getting off but the bear calls are under pressures. I will continue to split the bull puts to bring them closer to the strikes and making rooms for more flips of the bear calls.
Net liq is down to 119K. The margin ratio is at 46%. The leverage level inched up to 433. I will hedge more toward late part of the week.
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