ES had a very tight range overnight. It's very likely to see a new high break out today at least during the RTH. It may be too early to sell calls since I don't see a sign of topping and don't know how high it will go. It may be prudent to sell puts on any pull back. Define and manage risk first. Tomorrow's mid term election could be a big mover no matter which party wins. May be I should wait until then to trade.
Grains have been slightly down on Sunday night. Read several comments expecting a beginning of resuming down trend. I will not believe it until I see a break of some kind to confirm it. Meanwhile manage my risky positions.
EOD:
Indices held well in a small range for most of today. They pulled back to last Friday's range in the last hour. My guess is that trade was waiting for tomorrow's mid term election results. It's often bullish to the market according to people who are familiar with its seasonal. I will take stop of my ES 2005 bear call in S-5 tomorrow on an expected pull back to prevent it further going ITM. I may sell couple credit spreads and naked bear calls on p/b. I didn't have any fill today.
Grains pulled back somewhat today. Only wheat bounced back and closed with a 5C gain. Couple of my stop loss in puts got filled. I still have more bear calls in wheat and soybean, corn need to get out.
Overall, it was a light day. I was calm and clear.
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