The majors closed in the green for this week again. SPX is up for the third week while RUT booked its 2nd week up to 1637, close to the Feb ATH of 1715. NQ is relatively weak after leading the up and down in the last two months. Are the majors retesting the previous highs before the election or setting up for new highs after the election? The seasonals are bullish for the last three months of the year. Of course, the market is still very nervous about the election result and the impact of Covid-19 on the economy.
I had a good week trading 0 DTE and collecting premiums in my regular positions. It's all winners for the 0 DTE both CS and IF this week thanks to the lower vol conditions. I need to be more selective trading the O DTE base on the market conditions. I still don't have the stop-loss rules fully enforced. It happened twice this week the prices blew through before I was able to put in my stop orders. Luckily both of them were recovered. One of these days the luck will run out and wipe out my months of profit. Keep remembering the lessons.
My netliq is down to 112K due to the uptrend and the reduces long puts. The leverage is at 3.7. There are 3 RUT and 4 SPX long puts expired worthless this week. My delta is totally negative now. I will add long puts further ITM but fewer contracts. I will look hard to see where I can reverse 1-2 short calls to long puts.
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