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As I expected, the market rallied back. All the short sellers are running and screaming for their lives.
I remembered when I went to a mass seminar/conference and every self-proclaimed gurus were asking us to short sell the market. I hope they tasted this 'short seller crunch'.
I like it because those I lost in delta initially were all recovered and time decay helped a lot. With lower volatility, the time value dropped and I saw a sudden surge in my account. Brilliant!
But, when VIX reaching 17.80, the market will retreat, because by then, it is slightly too bullish in this bearish environment.
Enjoy the weekend, guys. Time to collect more decaying time value.