possible suggestion 1: close all positions. why? possible suggestion 2: wait for market down and then close it. why? what is the risk? other suggestions ? and what is the reason behind the suggestion? My current plan is:sell ES put against these 38 ES until all positions are assigned/covered: 1) sell cboe spx index put options below 2145 (to 2050) expired on every Mondays about 100 contracts(=200 es put positions because it is x100 sp500 index ). 2) sell emini ES put weekly options below 2150 (to 2050)expired on every Wednesdays (about 100 put positions) 3) sell emini ES put weekly options below 2150 (to 2050)expired on every Fridays (about 100 put positions) I have collected $12000 from Wednesday to Friday from 50 to 38 short position. But I short ES at a much lower price too embarrass to say. The reasons for above strategy are: 1) maximize margin in my account so can collect as much put premium 2) reduce risk of large short put positions in case Emini ES has sudden large drop so I will have large ES long position. 3) in my opinion, market fully(?) priced in the good Trump(large stimulus, less regulation), but bad Trump (whether all above will be realized, trade war, uncertain what Trump will do or say, Dec Fed raise rate, Dollar index surge, tech leaders FANG has been selling off) lots of unknown will keep sp500 range bound. 4) what could my strategy and above opinion about the market be wrong? Dow dos break up to all time high. what is the worst could happen? (which keep me waking up and write this post at 4am pt.) Thank you for any of your thoughts! And good luck to your trade.
......what will you suggest me to do? Study and learn enough to where you can think for yourself and don't have to ask questions like this!! Asking jerks like me this type of question will get you nowhere.
If you write your average price of short entries , somebody might sugges a solution .I would say convert it to a butterfly , buy calls atm , sell 2 puts lower for every short and hope it goes your way , get longer term premium like 2 to 3 months
Maybe I missed it, but why did you short 38 ES futures without your own plan? To cover that margin requirement, you must have a substantial account. I'm confused as to why you would ask us for the best course of action, when you are the only one that can decide what to do based on your expectations. It's your money at risk. My advise to you is never take on a position that size without a plan and never listen to others that don't have any skin in the game.
I'm think you should trade your position in accordance with your trading plan/strategy. What does it call for you to do? Or do you not have a written trading plan/strategy? I thought so....
Next one month? You are cutting it close. You have until early morning of Dec 16th Eastern US time to GTFO of that position. You have $198,550 on the line in a 38-ct open position. How large is your trading account? Couple of million? What will the ES do from now until then? Heh. What does your trading plan say what the ES will do, and what does your trading plan say is your risk-tolerance? And to answer this question... Dow and S&P are not always synergistic. Worst that could happen is that you get margin called and owe more money than you had initially invested if you don't manage the position correctly. You could let the contracts expire and have to financially settle for, what, ~4.2 million bux? Not sure what kind of "worst case" you are looking for, but it could go bad. Got 4.2 million in your account? Not enough information to help you sir/ma'am. Robert Morse, however, gives salient advice. Should listen.