A 3% up move in the RUT today with a 6% intraday swing. That’s giant. The trades were rocking yesterday and are now mediocre today. Makes sense, they like to be in the tent. I took some November off which was good. The extreme up move today did take a lot of the paper profits away, however they’re still all profitable though most are now sitting outside the tent. That’s OK. The 1190 area is just 12 points away and that’s where I’d expect major resistance and a pull back. I’ll adjust the December trades tomorrow to reasonable amounts to withstand a move to 1200. I’ll try to get that T+0 line nice and flat (if it doesn’t gap or run to 1190 too early) and at 1200, I’ll start to adjust enough to allow for a decent profit if the market should retrace back 20-30 points.
Today, I didn’t adjust until after the FOMC announcement and when the market fell to 1158/1160 area. Good timing but I only added 10 1160/1150 credit spreads to a remaining November trade and that was it. Nothing else was overly pressing. The deltas were good and they were just hovering around the edge of the tents. Especially the Decembers which were resilient to 1170 area. Obviously, and in hindsight, I wish I did add a few more adjustments to the Dec trades but my rules didn’t call for it. How could I expect a 2% run EOD 🙂
As For protector, I rolled my 207 puts in the protector to 208. I have 207.5 and 208s and the market run to 209 at the EOD has over-run my shorts. Protector continues to under perform everything and is down on the year.
Nov M3
P/L: 8,000
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Dec Rhino
I took this at 15:30 and it had a P/L of 10,060 but I don’t know if that’s accurate. I’ll see what it says tomorrow now that RUT is at 1178. At 4:00pm it looks like pricing is whacky because it shows a 3800 P/L. Doubtful its that low.
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Dec M3
