The employment number of last Dec came out in a big surprise to the down side. There were only 74K jobs added v.s. 170K expected. With such a disappointment I thought the market might sell off but it didn't. It explored the low of Thursday then was bought up. ES puts premiums were fairly low so was the VIX. Market closed slightly positive on Friday. Market may need time to digest the numbers and Fed's next move over the weekend.
On the commodity front, USDA's Grain Production Report provided volatile moves. The most noticeable was corn. It popped over 10 points from a new low. Soybean went up but pulled back to pre-report level at closing. Wheat lost some ground again. CL tried to push higher but was not able to close above prior day's high. It's basically a inside day. We are not out of woods yet. The weekend will give me some time decays but be prepared for another push down attempt. My this month's puts sell is in a better shape. The main concern is the $90 put for next month.
Quote of the Day:
Charles Kirk, “Making mistakes is part of the game and we all make our fair share. If you can honestly forgive yourself right now, you will take the first step toward having your best year ever.” (Kirk Report)
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