First Thing

• 10:14: BOT GE, R
• 10:14: adjusted stops, kept fingers crossed.
• overnight, SX7P was stopped out
• 10:38: feeling bearish, shorted MXEA, R and NIY.
• 10:39: decided that US short term rates are going even lower: bought GE.
• 11:18: got cold feet and closed my UB short. Equities look as though they are going lower, and UB will kneejerk up.
• 11:47: MIB closed via limit order. Things are looking up. Realized $10K
• 14:02: got short ES. Both this and R got stopped out.
• 14:02: showing good profits (4%) on general weakness. Also closed positions have lowered margin to 305K
• 14:03: debt still holding up pretty well, gold not showing any strength. Miners weak. RUT position (-$400K) big contributor to profits.
• 16:07: Bought to open: TSLA Sept 18‘20 200 PUT, RUT Oct15‘20 900 put,
• 16:09: Sold to close: NFLX Nov20‘20 220 put, UBER June 19‘20 21 Put, MGM Mar27‘20 16.5 put
• 16:09: Bought to close 1 RUR mar fut, MXEA Mar 20‘20 FUT
• 16:12: Sold to close: BA mAY 15‘20 240 PUT
• 16:12: Bought to close: HYG Apr17‘20 87 CALL

All the above via limit orders (I think!).

Closing Comments

I had too many trades triggered via limit orders. The market was moving my way and my portfolio looked too messy and my exposure was too high. Luckily, the market continued to trend and I was able to exit and take profits.

Closing trades: sell FTMIB, buy HYG Apr17‘20 87 call, sell UBER Jun19‘20 21 put, sell MGM mAR 27‘20 16.5 PUT, buy MXEA Fut, buy RUR Fut, sell NFLX NOV 20‘20 220 PUT, sell ROKU jAN 15‘21 55 PUT, sell LVS JUN 19‘20 PUT, buy SPI FUT, buy NIY FUT, buy SHOP NOV 20‘20 780 CALL, sell TSLA JUL 17‘20 310 PUT, buy CLX OCT16‘20 180 CALL, sell TLT JAN 21‘22 120 PUT

Quick stops: ES, R,

Opening trades: TSLA Sep18‘20 200 puts (adding to big position), RUT OCT 15‘20 900 PUT, UBER (not sure why I did this, probably to reduce my theta and hedge my

Thoughts on the day

Gold still not going up. Currencies not a clear trend: DX is now going up, after a lurch down from 20 Feb.

Long term interest rates still going down, but at some point the 40 year bull market in bonds is going to break. My main concern is to maintain my trading capital to take advantage of this. This will probably correspond to gold moving, but it’s hard to say. The bonfire is built, but we’re still looking for matches and maybe the wood is still too damp.