The rally continued throughout this week let by SPX and NQ. SPX booked five consecutive ATHs with a big blow-off candle on Friday after the better than expected NFP. Usually, a better job market would give Fed more room to raise rates. But the market has its own mind and destination. SPX hit my projected targets of 4330-4350 area. It was much quicker than I expected. Let's see if the bull will take a breath following the July 4th long weekend.
My netliq closed slightly below last week's 138574. But it's 9K below the high of this week. The Delta for SPX is negative 130 while RUT is positive 156 due to its falling for this week. The realized profit is $2740. The collected premium is about $1100 but is offset by rolling RUT 1750C. I have reduced two SPX long puts, but zero RUT positions. RUT was the weaker one this week. I am running out of long-term SPX long put now. I have been waiting for a small pullback to reverse a short call. I didn't catch a good timing.
I caught a couple of long butterflies in TSLA and AAPL. They paid off 50-100%. I failed to stop an SPX short call spread in my ET acct. I kept rolling it up but ended up deeper ITM. Luckily I reversed one last Wednesday. I had to increase the short call from one to two to move up 25 points. It's not worth it to spend thousands of BP to save a $60-100 spread. My mindset must change. It's not about one winning or losing trade. It's the process and rules of managing risk.
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