Market followed yesterday's down trend and hourly bear flag pattern. It did have an responsive buying at open but didn't even get to 50% RT as I expected. It held at lower part of prior day until later afternoon's sell off. ES closed at low of the day with concerns of Crimea's event this Sunday.
I added couple leg up positions in ES. I exited S-5's 1780 put on this expiration day in order to free margin. I then sold 1760 put for next week for $325 around noon but too early since the volatility got higher in the afternoon. These positions I sold around 1800 early in the week are further under water. One error was that I didn't take contract roll over into consideration which is -7 points for June contract. Also my mental state was fear of missing when sell off kept getting rejected early this week. I didn't wait for a good pull back to enter. I need to pay attention to my subconscious which often remind me a rational approach when I am in an emotional stage. Early this week my subconscious suggested me to wait for a pull back to sell puts but my emotion of fear of missing overwrote the rations.
Wheat just won't drop with concerns of Ukraine. It pulled back to retest yesterday's range and closed above yesterday's open and day before yesterday's high. It's a bite bullish depends on geopolitical news and weather early next week. Corn and soybeans are in consolidation so as crude oil.
I also entered VIS bear calls at $22, added to $23 for a scalp of next Tuesday expiration. I am relatively safe unless a major crash occurs on Monday. I have to monitor my risks on the road of Spring Break of kids' school.
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