The market started a big selloff on Wednesday and Thursday on the rate climbing above 3.2% and concerns of earnings affected by the trade war. The majors declined around 3 and 2% in the two days. There was no any obvious trigger. The selling rolled like a snowball. The selling halted this Friday after the attempts of selling in the early afternoon. The majors except QQQ closed inside yesterday's ranges. RUT is the weakest, barely break even. The selling may not be over yet depending on some major earnings reports.
Most of the trades this week are defending the bull puts. My uneven butterfly long puts helped to make some profit. Rolled two of my bull puts to bear calls. One is out. Another of 1470 call from 1660 put may not be that lucky. I had to do the RR to reduce 10K margin on the put side. The last AMZN bull put went bad as it dropped 6% in the week. I had to roll 1850, 1840, 1820 bull puts to next week in order to stay out of the money. I was concerned if these puts got assigned. My other scalps of QQQ, SPX also went bad. Remember to stick to my rules of engagement.
My account got hit pretty hard on during the selloff. Net liq closed below 100K so I had to wire 20K from ET which is low on balance too. After Thursday's weaker close I wired in another 10K to hold me over. Most of my bull puts are underwater only recovered some today. I don't have many resources I can borrow funds if another wave of selling coming next week. I am in the surviving mode.
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