The majors dropped further on Monday, Oct 29. But the fresh lows were met with buyers. It made buying tails. Then, it comes the turn around Tuesday. The majors had 3 consecutive revenge rallies. Apples slightly lower than expected ER stalled the market today. It was also a trade talk news-driven week. A better than expected NFP report may be interpreted as a supporting evidence for Fed to raise the rate in December. The mid-term election will be another market event next Wednesday night.
My portfolios got slapped around. I kept hedging on both sides. I had to spent about a half of the premiums I collected to shore off the changing margin requirements. A total of $45K was brought in to save my portfolio during the Oct selloff. Now I reversed 5 positions ( 3 RUT and 2 SPX) from bull puts to bear calls. Now they are underwater deep ITM. I reversed one SPX back to bull put today. There is not enough margin to do more. I may have to wait after the mid-term election to be sure the trend is clear.
Net liq is bouncing around 115K. The weekend expiring is often showing red lines. Don't have many positions offline soon. Leverage is at 475.
I am learning a short-term (1-2 days) Iron Condor for SPX. I paper traded it twice and so far it appears OK. If that works it may add some premiums for me.
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