I can't believe that I missed two weekly reviews before and after the July 4th holiday.
The three majors (ES, YM, and NQ) are holding at ATHs at the end of this week. Only the small cap (RUT) is still 10% from its ATH. It's turning up on the weekly chart. Overall, the breakout of the majors may have legs supported by the Fed's dovish position.
I am still using the same rolling up strategy with shorter expiries and aggressive long puts. It's working so far as long as the trend doesn't change. Monitoring our positions sizes and deltas are the key. It won't work once a deep pullback comes, such as the 10% pullback of this May. I haven't found a good way to hedge more than 5% pullback.
Net liq is above 150K which is better than June's average. It's partially due to the rais of my stock holdings. Leverage is at 3.7 and the option value is below -400K. It appears it's easier to manage the portfolio with a slowly rising tide.
I have made some progress in search of a new addon trading system. The keys are time frames and margin requirement. I have to overcome the fear of loss as my major shortcoming.
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