Market took a breath today. ES had only 8 point range but held at upper side of last Friday. It appears that market was waiting for the new Fed chair Yellen to speak tomorrow. I didn't have any new position since there was no meaningful pull back. My 1815 bear call was exited over night with a small profit. It was a mistake of my part from last Friday. It was too close and I had the urge of gamble. Glad I was able to correct it without a loss. The 1820 bear call still in place and I pushed the exit price a bit too low at 90. I need to get out before Yellen speaks tomorrow. Looks like I may not be able to add more contracts to my 4 for this week. Last week was too volatile.
CL is holding a bull flag around $100 today. I looks like has another leg to go up. I planed to use bull put to hedge my current position. I will try it tomorrow again.
USDA's estimate of export for current marketing year generated some volatility today. My SB bull put was finally out with over 90% profit and one week of time. There was not much juice left. I will try to establish new positions in the grain complex now the report was out.
I also tried couple credit spread in my personal account but no fill. I need to learn more about this strategy. VIX bear calls worked so far.
Quote of the Day: It's not whether you're right or wrong, but how much money you make when you're right and how much you lose when you're wrong. Soros.
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