The bulls are relentless. SPX finally closed above the 5000 mark. It booked the fifth consecutive up week. All of the major stock indices are at new highs. RUT is the only one legging. The small caps have not been the leading indicator lately. RSI appears in overbought territory on the daily and weekly charts. The Fear and Greed index is in the extreme greed of 78. Of course, the market tends to go extreme in either direction.
IBP Netliq recorded a new low since Jan 2023. It's down 13.3% from 226.9K to 196.7K. The realized P/L is $23,042. It's better than last week's $10,571. I followed my plan to adjust further out of DTE and bring them in. The collected cash is $7638. I was actively trading BF expansions. I traded 3 of the 5 days with the strong trend. Each BF day collected $2000 or more. The delta is down to -351. My bias and actions should be aligned with the trend. The leverage is up from 236 to 266. The total positions are C6-0 and P9-0 after so many delta adjustments. There were a total of 57 trades for the week. This does not include these further OTD trades. The commission cost is $264. I was too busy to make a 1-1-2 trade this week.
The two small accounts are deep ITM. IBP was easier to do inverted RR because it has a different margin requirement. TOS is at the maximum pain stage. It has only 25K b/p left. I won 2 out of 3 BF trades for $1K each. The BF for today was rolled to next Monday. The realized P/L is -$18,498. It's much higher than last week's -$3,943. The collected cash is $4177. IBP and TOS got $4033 and $144 each.
Lessons and Plan:
1. I noticed that my fear of sudden drop is affecting my hedge decisions. I should align my delta hedge with daily market direction. Why not make the delta positive with the up trend?
2. I started to remember to take mid-day meditations. The Atomic Habit audiobook has helped me to make incremental changes for a better habit.
3. My daily intentions are to Keep calm and stay disciplined.
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