The US index futures gapped down overnight following the selloff in Europe on the trade war concerns. All the majors closed down between 1.3 - 2.3% (QQQ) recovered partially from their lowest points. The selloff was in orderly fashion relatively speaking. MACDs are crossed down on daily charts. The selling may continue barring any news that may ease the trade tension.
Made 24 trades. I sold some late July and early Aug puts spreads for clients. Also, rolled out four of my ITM bear calls out and bull puts gaining a few points on each of them. I had to buy ratio hedges on the put side as vol increased. Made a mistake forgetting to separate an order to two different clients. It was a busy day. I didn't have time to deal with these directional ETFs. It could have been a good opportunity to buy some short-term puts for a quick profit. I will fix or repair the ETFs tomorrow. I do expect the market will stabilize a bit for now.
Net liq stayed above 111K. The gains were offset by losses with near Delta neutral positions. The margin ratio is at 52%. The leverage level is still elevated at 477.
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