The bull trend is still going strong. SPX closed at another ATH of 4958. It is up for 4 consecutive weeks in January. The bulls are relentless. The FOMC and NFP were not rate-cut-friendly. The trend and seasonality sometimes drive the market more than economic data. Early Feb is usually a choppy period historically. Let's see if the pattern will play out.
IB Netliq is down 2.7% from 212.4K to 206K. It closed at the low of 2024 after the wild swings with FOMC and NFP events. The realized P/L is $10,571. I didn't adjust the delta aggressively enough. The collected cash is $2,278. I won one BF expansion for $1.5K. I didn't trade BFE during the major event days. The delta is back down to -200. The leverage is up from 227 to 236. The vol is still below 15 in rangebound. The total positions are C6 -1 and P9 -0 after many delta adjustments. Added 50 DTE, Mar 22 XSP 1-1-2 for $226 this week. I am still learning it. I made 78 trades for the week. The commission cost is $398.
The two small accounts are deeper ITM while the market is going higher. There is no relief in sight. The realized P/L is -$3943. The collected cash is $4007. IBP and TOS got $3731 and $276 each. I won a BFE and LCS in the IBP account. TOS has only 40K b/p left. I made fewer inverted RRs with this account.
Lessons and Plan:
1. I continued to use the delta hedge strategy. I need to find a better way to hedge any 1% moves. Trade futures could be a way. Another way is to buy ATM directional options.
2. I adjust positions in far DTE and roll them into short DTE. That leaves me room to adjust if the price direction changes.
3. I added a mid-day meditation session to help me stay calm and alert. I only did it twice this week. I shall set my daily intentions as Keep calm and stay disciplined.
4. I will study Gamma effects on 0 DTE. I shall look for a gamma graph for 0 DTE.
No comments:
Post a Comment