The major indices ended flat for the week. The dip buyers have been able to hold the market. The support levels were tested and weakened. SPX had a slight red week after five-week gains. It's holding 4100 for now. RUT was up in the lower B band. The daily charts formed higher lows and lower lows. The earnings season is in full swing. Earnings could be the main factor for the market. Seasonally this is a bullish period for the market. I will keep the trend in mind as the forest.
IB Netliq is up 9% from 294K to 324K. I transferred $20K back to ETQ. The netliq closed above 300K for the first time in years. The options' value ended below 200K for the first time in at least 5 years. The leverage is down 9% from 123 to 111. VIX stayed at 19ish. The realized P/L is up $31K. The collected cash is only $2K. I was following the -1+1 rule. I reduced SPX 4 SC and 1 SP, RUT -1 on each side. That was my plan for last week. I feel good I did it.
The calm market is a major factor in the recovery. The BF hedge strategy helped to build a large cash reserve. The cash position boosted the netliq. The reduced position added B/P. I have switched 1.5 RUT to SPX. SPX has more DTEs. It will be easier and quicker to reduce my positions. I will stay humble and cautious.
The two small accounts performed fair for the week. I followed the -1+1 rule mostly. TOS collected $2.3K. IBP got $2.2K. The total cash premiums are $4.5K. Each account has one position left.
Lessons learned and plan ahead:
1. Patience is still my shortcoming. My daily meditation helps me to recognize my impatience.
2. It takes time to change and rebuild a habit. I need to keep working on it.
3. Don't adjust a position unless there are 2X losses and 10-point gains.
4. Manage the risk. I can only control my position sizes. It's my safety net.
5. My plan for the next 30-60 days: eliminate all of the DITM positions. I will reward myself with one month's vacation or an SUV once I achieve the goal.
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