RUT position

I have now spreaded this position off so it looks like this.

I'm still bullish on the markets especially given that we were able to take out last weeks highs (ie pattern of higher lows, and higher highs) and the very strong tape readings for the last 4 days including today (currently cumulative ticks at +40,000 and trending straight up!). I just think we might consolidate here a bit given that we are very short term overbought now. So with that I had to weigh up the theta decay in my position if I didn't spread it off versus how much more the market may move in the next 2 weeks. Of course given the speed of the market in the last 2 years, I could be made to look silly. Hopefully I will gain a bit with the theta to come out for the Independence day long weekend.

I have also adjusted the OIH trade as well. I bought 2 x the 152/154 call spread to give myself a bit more upside profit. The trigger was that OIH has broken resistance on the daily down trendline. Again I'd like to see markets move a bit slower here but who knows. We've moved a whopping 10 points in just 3 days!