It's a new month. ES had a gap below from overnight. It initially closed the gap after open and continued to push lower to last Friday's low. I was hoping it to move lower so that I could sell some puts. But buyers stepped in to defend last Friday's low at 1914 and kept price in the higher part of overnight range. I didn't add any bear calls today. I want to wait to see if there is another thrust up to 1930-35 area on daily BB/H and weekly Fib 23 target. I will sell puts if it fail from here.
Wheat and corn dropped further overnight. They tried to push up after export report. Corn moved back to last Friday's range but wheat failed again before closing. Wheat is in the low of LVA. It may fill in this LVA of 618-645 for awhile if the low holds. I made a mistake by moving my 625 add on price lower before closing. The fear of missing made me change the entry from 20-18 range to $15, although it's a 3x add on. I should have waited for another day to see where the price will go. Soybean has the high demand of soy meal and export figures support. But future months' price are much lower than current price. Something needs to watch for.
CL retreated 0.5%. I am waiting for it to test Fib 38-50 PB to sell bull put. Also wait for Wednesday's inventory report. NG is still in the 4.35 - 4.75 range but tilting to the upside.
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