The long buying tail of last Friday played out this week. The majors reversed up on Monday and completely recovered from the losses of last week or even more except RUT. The bulls are back in charge now. SPX closed at 2822, a new high of 2019. Based on today's breakout, SPX has a target of 2880-2910 range. RUT is relatively weak after being faded out today. It could be pulled up by the others next week though. The daily MACD is turning up. Its resistance is at 1568-1578 range. The big event for next week is FOMC on Wednesday. The dovish Fed is the power behind this rally, I think.
I didn't reverse my positions from short call to long put earlier this week. My hesitation made my portfolio under pressure again. Luckily I was able to close each of my long put in SPX and RUT. My delta is ended negatively today. I will have to make some adjustments early next week, especially on RUT.
Net liq stayed in the same range of 110K. Leverage is still above 5.2. The improvement is much smaller than the price movement. The fate of my portfolio is at messy of the market. I don't like this kind of stress. My search for solutions of unwinding my positions has not resulted in anything. I didn't work hard enough. I am invited to do a presentation in options with a local Wechat group this Saturday.
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