When NFLX dropped 15% after earnings report people thought it would be a bad day today. It turned out that the bulls didn't care of any bad news. They pushed the majors up. QQQ even made another ATH. I guess the Fed Chair's testimony in Congress gave a positive tone to the market. The earnings session keeps bulls strong and fearless.
Made 8 trades. Sold a couple SPX naked bear calls of August 3 for clients. I am very cautious about selling bear calls. That is the place I often get into trouble with. I didn't collect any premiums for the 2nd day. I only closed positions and added hedges. I am waiting for the SPX 2800 to close tomorrow and the RUT 1700 expiring on this Friday. I can roll additional bear calls to bull puts if this two are out.
Net liq held well on today's pop. The margin ratio is above 50%. I continue to prepare for the China trip.
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