ES pushed up to retest May 13's new high of 1898 by a couple of ticks today. It's Friday before Memorial Weekend. I didn't expect it would have such power to make a new high. Not been prepared!
I had another lesson in wheat today. I only sold one wheat $660 put 10 min before closing. I was stubbornly waiting for a pop before 12, then 1, then it came at 2 pm. But it was too small to hit my 2nd target. I was busy chasing the prices in the last few min. I was not prepared for another sell off thinking it was Friday before a long weekend and the sellers would not be so aggressive. Lesson learned: A mistake needs to be corrected as soon as possible especially when there is still a chance to break even or even get a small profit. Instead, I dragged it for too long. Letting greedy take over discipline and rules. I was not prepared to deal with the situation against my expectation or hypotheses.
I did it right with NG today. I exited $4.30 put when there is a possibility of going down to against me despite there are only two days left to expiration next week.
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