The major indices gave back their gains after FOMC raised another 0.75% rate on Wednesday. The rest of the week was volatile in exploring directions. The majors closed this week in the red. The indices' downtrends are still intact. The large caps and small caps are in a better place than SPX and NQ. The catalysts for next week are the mid-term election and CPI report on Tuesday and Thursday.
The IB Netliq is up 33K to 133K. The leverage was down to 337 from 492 last week. It's the first time below 400 in the previous two months. The options' value decreased by 20K from 372K to 351K. The realized P/L is 37.6K. The cash collected is $1.9K. I estimated about $500 in interest and dividends. The good results for the week were mainly from the reduced size and risk. Luck in the none directional week is a factor too.
The 0 DTE didn't do well this week. It only collected about $1000. I skipped trading on FOMC Wednesday. I didn't manage well my TOS 3700 SPs. It was a big reversal day after the NFP report. My SCs were stopped right before the price fall. My SPs were too early and threatened as well. I lowered the SPs by adding SCs before the 2:30 reversal. The fear of losing took place despite of I already had LP hedges in place. Then, the 1.5% rally in EOD pushed the SCs ITM. I didn't have a stop-loss plan for the SCs. I had to roll the 3745 SCs to next Monday. I also made mistake in the contract quantities. I reversed 4 instead of 3 contracts. The risk was increased and carried to next week.
Lessons learned:
1. Patience is still my problem. I should pay more attention to the time of the day. There are certain times when the market tends to be more active and make count-trend moves.
2. Try to recognize my emotions, especially during a volatile time. Learn to step back and wait.
3. Void over managing my positions. It may not be worth adjusting anything less than 10 strikes.
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