Grains continued to fall most of today. I purchased puts in all of three to hedge my positions. Most of them got filled before the closing on a small pop. My plan is to exit part of my bull puts before Friday's USDA report and let the directional puts run further. I need to cut some loses first otherwise I don't have enough directional puts to offset my bull puts. The general consensus are bearish as weather and crap conditions are supporting a large production.
I added couple of ES this morning when it came down to close a small gap. It looks like a three day pull back is over if ES would close above 1970 in next couple of days.
CL is in its 3rd week downward. Today's inventory report is less than expected but price still dropped more than 1%. I entered a bull put 95 for August near Fib 50% RT. It looks like I was too early. I should watch 101 level at Fib 62%. May add a further out position at 93 or hedge it with a bear call when and if it pops.
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