9:24 Given the yesterday's run up, I would be looking to buy dips on the /ES today with the minimum target of 5 points. I would largely rely on WVF and BB's for entries.
9:27 Long-term portfolio has a large short in October /VX which has rolled front today with a hedge in /ES. I will unveil the hedge if we break to the new highs or get a substantial dip. I think that the fair value of front /VX is around 16-17.
9:38 New highs S&P 500. Adding some to the hedges right now might not be a bad idea, given the fact that /VX is very elevated, while SP is near resistance.
9:40 Options selling portfolio has only 7% left of the value on short VXX calls. Might as well cover and roll for the next week. The real deal here is to define whether to wait for an opportunity to short at a higher cost or to short right now and take advantage of the extra theta decay.
9:42 There is also a dilemma with long-term portfolio - add to hedges or book some profits or both? One thing that advocates for the extra hedges - a very important level of resistance is very close to where we are right now. I could simply unveil the hedge as soon as we break through it.
9:43 Relatively small range on SPY.
9:46 November/December VIX futures pair is practically flat right now. A good opportunity.
9:54 Entered Nov/December VIX spread for 0.05. Now might add to hedges with short /ES. Or buy some puts...
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