Today we had a nice little bounce in the markets, I used the opportunity to rebalance the alpha portion and size down about 7 percent overall. I didn’t like the size of the alpha protector as compared to the MIC in terms of margin.
The MICs are doing great. I’ll check tomorrow but it appears we are up at least 5-6% with a possibility of getting 7-9% when we close. They are all well balanced and only a very large move will unhinge them. We will close by next Friday or the following Monday at the very latest. I will also enter June MICs slowly during the next 9 days and will try to enter them on a big down day to take advantage of the higher volatility.