It was another volatile week but the majors traded in ranges. The Ukrainian crisis is worsening as Russian troops advance which pressured the market sentiment. The majors failed to breakout to the upside after the reversal from last week. They all formed a wedge pattern awaiting a breakout one way or another.
The IB Netliq is up 39K from last week. It's the result of the rangebound week. The leverage is back from 548 to 363 which provided some relief. The realized P/L is $31,800. But the collected cash is - 1,900 since most of my hedges didn't work out, also the results of the rangebound market. A positive outcome is that I reduced 4 of the SPX SC and 2 of the RUT SC. I will have less risk if the market pops, or more room to reverse the SP if the market goes down next week.
The 0 DTE system in the small accounts is my bread and butter now. It collected $830 premiums after ST's SPY BF C went worthless. I didn't take stop loss quickly on Thursday's reversal.
Lessons for the week:
1. Be patient and watch for the levels.
2. Pay attention to my emotional changes.
Plan for next week:
1. Keep in mind that the majors are still in the downtrend and VIX is still above 30. The war in Ukraine is not likely to get better any time soon. Adding hedges with the trend.
2. Continue to deleverage my SP positions. The RR 4430 from SC to SP was a bit of an emotional trade.
3. Trade 0 DTE with the directional of the day when B/P allows in IB.
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