The majors suffered another volatile week and closed at the lowest point for the week. So much for the seasonally best April. SPX, NQ, and RUT all closed below February's lows. SPX and NQ booked their fourth consecutive negative week. RUT had one week of a small gain within the last four weeks. The three now are closed at their lows of the year. The pictures are bearish. We could see a bounce before or after FOMC next Wednesday.
My IB Netliq slide to 116K including the 10K I transferred in today. It's another 24K drawdown from last week. The account was hit with a 22K margin call on Wednesday. I mistakenly thought the red letters were false until an SPX LP was called away. It was the 2nd time this year. I can't even find a good excuse for it. The account booked a $12,185 profit on paper for the week. The total P/L is $11K for April. The cash collected was negative because of the margin call. It was such a bad experience and feeling.
For April, IB's realized P/L is $11,705. The collected cash is -$16,233 due to the $22K margin call.
The 0 DTE hit a couple of full debit hedging targets. The 2 small accounts collected over $4K for the week. The ET account was lucky enough to clear these rolled-down positions early in the week. I had to roll out another batch of puts today in order to let the 4140P be profitable. These 4130Ps were lucky to be OTM at the last minute today. The 3.6% selloff was brutal today.
I made $10,640 in the two small accounts in April. Some hedges worked out during the volatile time.
The lessons learned this week:
1. Be quick and nimble to adjust my positions based on the market direction and the delta.
2. Don't hesitate to spend money to hedge my accounts. Overall, I have made profits with the hedges.
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