I closed all of December trades yesterday. Seems like it was good timing as the futures are pointing to a big down move. We’re about 1.5% down as I type this. Markets are puking. If it gets serious, watch for the big guys to start dumping (AMZN etc). There’s a lower gap open around 2020. Probably a target for now. If it goes through that we’ll probably see 1980 and maybe even 1920. We’re quite oversold, so perhaps this is the start of capitulation. Below 204 is not good. A lot of stops will be triggered. <\/p>\n
I’ve got Jan and Feb Rhino’s on that will be under a bit of pressure as I will get close to delta limits being reached. I got off a lot of the call calendars yesterday but we may have to close some of the upper BWBs today. I’m going to expect (because of Vega) that my balances will look gross today, so I am preparing for that \ud83d\ude42<\/p>\n
Update:<\/p>\n
Market opens and it bounced a bit. I tried to put on some bearish butterflies to hedge my rhino a bit but wasn’t able to get a fill. It’s starting to puke a bit now with SPY at 202.86 (falling from a 203.6 bounce). Pretty gross. <\/p>\n","protected":false},"excerpt":{"rendered":"