Trade Log – Week Ending Mar 28 2020

Helicopter Money

Here it comes! Unlimited QE and trillions of economic stimulus was unleashed this week.

Unsurprisingly, the markets responded in kind and rallied hard. I don’t expect this rally to hold, and am positioned to the short side.

I really didn’t do a lot of trading this week outside of some futures positions to profit from the expected stimulus package passing and some debit call spreads on the SPY/QQQ as I expected the market to boost higher.

These were all exited for some decent profits which have offset the marked losses I have on all of my long put spreads.

I did get burned a bit on some poor timing on /ES and /NQ trades in the middle of the week but that’s the nature of trading futures 🙂

Coming into the end of the quarter I expect the markets to be generally softer, but the extreme movements we’ve seen should start to diminish. The VIX is starting to come in a touch, although there is still a lot of volatility priced in.

My portfolio is as follows:

SPY – short, very short.

EEM – breached put spreads that will likely need to be rolled or otherwise managed.

EFA – long credit spread – it’ll be a max loser

OIH – short put spread, breached and will need to be managed

QQQ – short call spreads

VXX – short call spreads, all breached but likely going to be coming in over the next couple of weeks

Stay safe and trade with appropriate risk. I’m about 25% allocated currently and expect to start to increase that over the next month or so.