The major indices recovered from last week's bank drama selloff. The tech-heavy NQ lead the pack again. It stayed above the 200 WSMA. SPX and YM closed right below the same WSMAs. They reclaimed their 200 DSMAs except for the small-cap. RUT has many small and medium-sized banks. FOMC generated some volatilities. The rate hikes are close to the end. There is more clarity from the Fed for now.
This week, the IB Netliq is up 14% from 223K to 260K. It's a new high for the last 3 years. VIX is down about 10% from 25.8 to 23.4. The leverage is also down 18.5% from 172 to 140. The realized P/L is $42.3K. The collected premiums are $7.9K. I was lucky to hit BF hedges every day with the -1+1 rule. I reduced the SPX C from 10 to 4, and P from 6 to 4. The RUT positions are C-1 and P+1. I was quick in adjusting deltas which paid off. The market's rangebound helped too.
The two small accounts performed well too. These ITM positions were unwinded. TOS collected $3K with the BF hedges mainly. IBP got $3.9K cash. I traded 0 DTE on Thursday. I failed to enforce my S/L rules again. It was only exited in TOS on Friday. That caused a missed BF opportunity today.
Lessons Learned:
1. My daily meditation helps keep me calm. It reduces my stress during work.
2. I checked my expiring positions every day this week.
3. I must enforce the stop-loss rules if I want to trade 0 DTE again.
4. The BF hedge works in the current market conditions. It may stop working when and if the market condition changes. I must prepare for it.
5. Keep my current position under control. Don't adjust positions often. Act like a sniper.
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