This week is a volatile week with big swings in both directions. The tension between Russia and Ukraine finally became a full-scale war. Putin lied when he said he had no plan to invade Ukraine. On Wednesday SPX closed at the Jan 24's low. It was a really bearish posture. Then the Russian invasion started late that night. The futures market tanked. ES reached the one-year weekly range low of 4100 area. I was deleveraging my LPs to SCs. The majors started to recover the next morning. It was a big reversal day. SPX turned around from -2% to +1.5%, a total of 186 points, 3.5% round trip. I got slapped in both directions.
IB Netliq is down 45K from 143K to 97K. The leverage is up to 548, the highest level since the Covid plug of 2021. The realized P/L is -$17654. But IB made a margin close of $36,160 during the big drop on Wednesday. So my cash is down $32,206 for the week after the $5K ITM collection. It was a total disaster week for me in which I made all the mistakes and broke my rules. I was over-exposed in both directions.
The 0 DTE in my personal account continues to perform well with some scary moments during the volatile week. It collected $1,532 for the week. I had to buy some hedges due to the large daily swings, but they mostly worked out.
The lessons learned this week:
1. The same problem of no stopping enforced;
2. Oversized positions when I try to reduce one side but added two on the opposite side;
3. Lack of recognizing and control of my emotions, especially during volatile times.
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