22nd April

Overview

Equities up a bit. No real direction. Commodities calming down, but Brent dragged down by WTI.

You tried to reduce your margin. Big use is a massive hedged short put in SBUX. Put a limit order to close this out at zero. Can’t even remember how you got this. BA and TSLA dragging you down. You are long one ES, but maybe not enough. You think you bought this via a trailing stop. Trying to unwind the GC call spread. Although it’s limited risk, you are going off gold. My Overhyped Stocks list is doing well, but at some point it will fade.

Wrap

Well, I heard that crude had soared 40% after Donny had tweeted that he was going to fire at Iranian shipping with gunboats. I thought I was toast. In fact, it wasn’t too bad. I was short the Dec. fut, which moved 9%. I doubled down.

I did get hit by a ludicrous short put position in SBUX. I had got it hedged, but a 6% move in the underlying completely derailed it. Big negative portfolio gamma hurt me. I took out the position after discovering that I was (for some unknown reason) long SBUX. I am an idiot.

I did buy some ES on a trailing buy. Closed again.

Overall, a bit sick, but up over the last two days in aggregate, and closing the SBUX cut my margin requirement by $100K.

I increased my exposure to GC. It seems to be moving.

I went short 1 lot ZN.

I sold some calls against my EURN and went deeper long FRO.