Sep 17 – Fed Day

Today’s the big day. I am positioned with very little upside risk and about 5% room on the downside via a series of M3s. Though, one of the 1120 M3s are now vega positive and if volatility decreases it’ll sag the T+0 line a bit which will cause me some issues. Nothing too risky at all. I plan to up my risk going into October and have been waiting for the market to settle down. I added a few 1150 M3s today since the volatility is still high and we can get them at a nice cheap price given the time till expiry. Again it’ll handle all upside moves well and has a good 5% to the downside before any issues.

The RUT has moved up quite substantially in the last few days (up nearly 50 points! which is near 4%-5%).

5 min to go. Can’t wait for this meeting to be over with and for some normalcy to return to the markets.

The alpha protector is down on the recent rise as volatility flew out of the long puts. I was somewhat expecting that. As it gets passed 204-205 we’ll see profits return. I rolled up the shorts today from 201 to 203 to give more upside room.

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