Actually the correct title will be "S&P will not trade over 2426 before a 13% correction takes it down"
I had to burn 1/3rd of my week's harvest in re-plowing fees, that's what happened! (Only to have the day end flat, and threatening a topside move again. ) AND I got absolutely ZERO beer from anyone. DANG.
Sorry, I find the way you write sometimes difficult to understand. Are you saying you lost 1/3 week's worth of profits on this call? In other words, you were positioned long which didn't materialize so you lost money?
It means a considerable fraction of revenue intended for income, was instead (re-)spent on commissions to roll put spreads away from the heat.