ES closed on a new high of 1860.75 today. Early afternoon there was a news about Ukraine which cause the market quickly dropped to 1746. I was able to get couple position filled for 2 and 3 weeks out. Then buyers stepped in pushing it back to close higher. It was an ideal situation for put sellers.
On the other hand I wasn't that lucky with soybean. After the big shooting star sell off grains regained some ground. A pull back was expected but the closing was very strong. They all closed near season highs. It make me wonder if it's just a pull back or resuming trend. We will see the evidence early next week. I added a position of 1430 calls for $18.75 today in an effort to rescue a early entry. But it's less than 2% from the strike now since no drop followed this pull back. I may have to take a stop on it.
CL is still holding up in consolidation mode. The unstable situation in Ukraine is a big risk factor now. I made a entry mistake on my CL hedge put by selecting a wrong strike price of 95 instead of 93.
This month I did better than January to close near $4K profit. It was the first 2 weeks' volatile movement gave me more chances to enter positions plus closed couple of CL positions. My IB cash position turned positive for the first time. I means I have repaid all my trading loans. I am expanding the premium selling program which I think it suite my style for now. The key is still risk management and self discipline. If I am patience and follow my rules I should be consistently making profit.
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