The pre-market is down about 1% and VIX is ready to open at the highs of yesterday. THere’s some major support at SPX 2053 so we should see a pause there.
The increased volatility will make for some difficulty getting these remaining M3 trades off. I entered the day quite delta negative so that’s one positive. As long as it doesn’t break RUT 1148 we should have an OK day. My plan is to peel off portions of the trades as the market puts pressure on respective sides. Ideally, we can close it all off after we get a little bounce.
Update:
When RUT hit 1152 my deltas were too positive so I had to adjust, literally 2 minutes later, the market shoots up to 1160 🙂 I am waiting till 2:30pm to adjust and/or get more and more out of the trades. Volatility is high as is gamma.
Jan/Feb trades are all doing just fine. Only in Rhinos for those months.