Volatility surged from last Sunday night when the futures opened. SPX 3400 failed to hold on Monday. Then, the watershed started. The majors dropped 3% or more on Wednesday. By the end of the week, SPX and NQ are back to retest the September low of 3200s. The small-cap faired a little better. It pulled back about 50% from the same period but closed under 50 SMA. The difference may mean something. The election uncertainty and the resurging of COVID-19 are the driving forces. The market seasonality is in play as well.
My netliq is up to 120K. The leverage is at 3.37. These deep ITM bear calls helped. I am waiting for the election result to reverse one or two bear calls once the dust is settled. My saga of loss in ET continues. I reversed 2 long puts to short calls. I was able to close the early one of 3360C today. I am left with a long put and short call both deep ITM. I have to maneuver around according to the election result. I am limited to available funds which makes it difficult. I could be choked to death at some point. A fatal mistake I made by not stopping my loss according to my rules.
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