Both ES and Dow set new high again today although the range were small. Market was encouraged by Yellen's comment in Congress's confirmation hearing. ES had 11.25 point range. Market appears setting up for option expiration tomorrow.
I exited out my 1800 call sell position with a small loss and left my 1810 call. It was a right plan. My 1810 call is doubled now and should cover the small loss if ES move high tomorrow. I may close it tomorrow to void time decay and lock in profit. I may set a credit spread for my 1810 call sell of EOM.
I started using CL options for scalping this week. It has better premium that ES when near expiration. Crud oil is a much volatile instrument. I should use it with farther OTM and shorter time frame. First is to identify large trend and stay with it. Second is to make sure a daily level is breached, then trade from opposite side of the trend and levels.
Every day's home work and identify key levels help me looking at bigger pictures. Any plan is better than no plan.
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