Hi All,
Not much happening in the markets on Thursday and Friday, it seems like the market was digesting the gains made on Monday and Wednesday.
Things are looking very bullish out there and, unless we get some really bad news to spook the market, I’d expect RUT to make a run at 770 sometime this week, even if the price drops early in the week.
I did not make any changes to the January positions. They are both in good shape so far but are down a little money.
I did make a few minor adjustments on the December M3 trade to trade some money out of the position and posture slightly bullish on the position. I sold an IWM 47/62 call spread which simply swapped the way, way ITM 47 call for a way ITM 62 call which freed up $1490 for further adjustments if needed. I also sold a 690/700 put spread to deal with the anticipated up move should it occur. This position is currently up about $850 which is over it’s profit target so I’m keeping it on a tight leash. The new position is shown below:
That’s all for now, I’ll update changes as they occur.
John
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