The Panic Continued 3-20-20

The market continued to panic as the COVID-19 virus spread around the world. The Fed lowered the interest rate to 0-0.25% and added $700 billion QE last Sunday, March 15. The index futures gapped down on the same evening despite the near 10% pop on the closing of prior Friday. Fed's stimulus package appeared no positive impact on the market. It might have provided liquidity to prevent total claps of the market. This week ended with another bear flag for all the majors. ES closed below 2018 low and below the 200 weekly MA. Friday was a big reversal day from positive to negative -5%. That's a bearish sign for the market next week. SPX looks like it's going to retest 2000 area which is the breakout area of 2016. RUT is closed at 1014, near its 2016 low of 943. The majors lost another 13% for the week.

My net liq stayed at 64K after selling 200 shares of QCOM for 13K, similar to last week. It's a bad situation. I am not allowed to add any positions except hedging or closing positions. I had to close 3 deep ITM RUT long put and roll 2 more. It cost over 100K cash. These long puts will continue to drain my cash. I don't have enough time to wait out this selloff.

I will have to calculate my current spread distance of the long puts to see how much they will cost me maximumly. My cash is not enough to cover all of the positions. I will have to sell most of my stocks whenever there is a pop. The problem is that my stocks have lost more than 30% of their values as well which reduced my net liq value as well.