Wednesday 27th of October

S&P opened up weaker and traded down to 1167 level where we saw fair amount of volume coming in at in the 2nd hour trading 477k contracts on the hour bar. Remember that we have reversed quite a few times on hourly bars exceeding 500k contracts. This was almost 500k and we reversed higher and had a strong rally towards close. The volatility rose quite a bit eventhough the move was very small. It seems to be a lot of traders looking for a move lower, bascially everybody. That is maybe a good reason to not go lower?
Closing pretty much on top of the daily range and 11 points off the low. That is a strong close in my view and expect tomorrow to open higher.
Trading wise the portfolio declined 0.85% on the day and was a bit too short when we reversed higher, which cut the performance today.
Lost 35 points in the futures and I did a fair amount of trading against short calls for 29 Oct expiration. I sold the calls at 1180 and 1175 and 1170 and hedged long, closed some of them out when it didn't hold below 1170 and also closed some of the long hedges leaving the futures negative. Made about 16.50 points on the short term options trading.
On the longer term options portfolio I did only one change, adding short 1180 calls for 19 Nov expiration.

That was all for today, take care.