It was a very volatile week for the market. The price ranges were more than 3% daily. VIX is hanging above 30 even on the up days. VIX reached 54.39 on Friday, the highest level of the last 10 years. Although the majors recovered about half of the losses in the last 30 minutes of the session VIX is still closed at 42. The bear flag pattern is present in the daily charts of the majors. Also, they closed below last week's opens. Those are the bearish signs. On the other hand, they are technically oversold on the daily charts.
My portfolio was under $100K most of the days last week which limited my ability to move my positions around. The leverage is elevated above 8. Short calls were reduced by 2. The pressure is on the long puts but I limited ability to reverse the puts to calls.
I may be forced to close some of my long puts positions next week if the market continues to push lower which is likely. My personal account is faced liquidation by Monday. I spent $900 to roll it to Monday in the long put. I will have to stop loss at 30K or more on Monday. It's sad I didn't hold my rules of not trading the account. It dragged for over a year. I switched from long to short, then short to long last week.
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