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title="Permalink to 12th March 2020 March 2020">12th March 2020 March 2020</a></h1>
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<abbr class="published" title="2020-03-30T00:00:00+01:00">
Published: Mon 30 March 2020
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<abbr class="modified" title="2022-11-22T20:22:54.626662+00:00">
Updated: Tue 22 November 2022
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By <a class="url fn" href="https://www.stevehemingway.com/author/steve.html">steve</a>
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<p>In <a href="https://www.stevehemingway.com/category/markets.html">markets</a>.</p>
</footer><!-- /.post-info --> <h2>About</h2>
<p>I was pretty busy today. I had to have my French conversation class at Maggie’s house and I also went to the Club to listen to Partho Shome talk about taxation and India.</p>
<p>Looking at the opening and closing trades, it’s not at all what I was trying to do. About half the trades were auto close outs. I seem to have taken on more risk, drunk on large profits largely generated from my high gamma <span class="caps">RUT</span> puts. Although I was up a lot, I did not remotely look like a disciplined trader. A number of the single name puts were based on a gut instinct that stock which had not yet fallen very much were doomed to go down. <span class="caps">VZ</span>, <span class="caps">CPB</span> fall into this category. I really know nothing about these names, and I may regret taking the position.</p>
<p>Trump came on <span class="caps">TV</span> to reassure the population. Flights from Schengen were banned. The Fed said it would launch a $1.5B repo facility (bigger than the annual <span class="caps">US</span> defence budget!!). There seems to be a building consensus that the authorities are going to close the markets.</p>
<p>Trading ideas: short <span class="caps">CBOE</span>/<span class="caps">LSE</span>.</p>
<h2>Opening Trades</h2>
<h3>Sales</h3>
<p><span class="caps">FUTURES</span> <span class="caps">ON</span>: <span class="caps">ES</span>, Z, <span class="caps">NQ</span>, <span class="caps">RDXUSD</span>, <span class="caps">GE</span>, <span class="caps">SPI</span>, <span class="caps">DJ600</span>, Z</p>
<p><span class="caps">CFDS</span>: <span class="caps">VCLT</span></p>
<h3>Purchases</h3>
<p>Puts on <span class="caps">DJ600</span>, <span class="caps">SX7P</span>, <span class="caps">FTMIB</span>, <span class="caps">ZM</span>, <span class="caps">TSLA</span>, <span class="caps">CPB</span>, <span class="caps">RUT</span>, <span class="caps">VZ</span></p>
<p><span class="caps">FUTURES</span> <span class="caps">ON</span> <span class="caps">GC</span>,</p>
<h2><span class="caps">CLOSING</span> <span class="caps">TRADES</span></h2>
<p><span class="caps">NQ</span>, <span class="caps">RUT</span> (<span class="caps">PUT</span>), <span class="caps">SDC</span> (<span class="caps">CALL</span>), <span class="caps">UBER</span> (<span class="caps">PUTS</span>, as part of moving to a lower delta position).</p>
<p><span class="caps">RACE</span> (<span class="caps">CALL</span>).</p>
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