About

I was pretty busy today. I had to have my French conversation class at Maggie’s house and I also went to the Club to listen to Partho Shome talk about taxation and India.

Looking at the opening and closing trades, it’s not at all what I was trying to do. About half the trades were auto close outs. I seem to have taken on more risk, drunk on large profits largely generated from my high gamma RUT puts. Although I was up a lot, I did not remotely look like a disciplined trader. A number of the single name puts were based on a gut instinct that stock which had not yet fallen very much were doomed to go down. VZ, CPB fall into this category. I really know nothing about these names, and I may regret taking the position.

Trump came on TV to reassure the population. Flights from Schengen were banned. The Fed said it would launch a $1.5B repo facility (bigger than the annual US defence budget!!). There seems to be a building consensus that the authorities are going to close the markets.

Trading ideas: short CBOE/LSE.

Opening Trades

Sales

FUTURES ON: ES, Z, NQ, RDXUSD, GE, SPI, DJ600, Z

CFDS: VCLT

Purchases

Puts on DJ600, SX7P, FTMIB, ZM, TSLA, CPB, RUT, VZ

FUTURES ON GC,

CLOSING TRADES

NQ, RUT (PUT), SDC (CALL), UBER (PUTS, as part of moving to a lower delta position).

RACE (CALL).