What a run!
The RUT is at 1163 right now and rebounded 28 points from 1135 (almost a 2.4% move in a few hours). The large run from 1135 to 1161 this afternoon is shitty for the trades. We were comfortably under the tent and now we’re approaching the edges and most some of the paper profits will be wiped away. It will put pressure on the upside that we may have to address tomorrow. It could be another OEX top and theres a lot of Chinese data coming out Sunday. Ideally, I’d prefer to adjust Monday afternoon..and if we don’t break 1170 we should be able to get away without any adjustments tomorrow. We’re 36 days from our November expiry and we’ll be looking to close around 21 DTE (max 14 DTE). So I’ll be looking for a pullback in the next 20 days to close the trade. The hope is that the pullback is closer to the end of the trade.