Wednesday, November 19, 2014

Waiting for Fed Minutes 11-19-14

I was later again today. I woke up couple time overnight which doesn't happen often. Is it a sign of aging?

I decided not to trade indices today before Fed minutes release at 2 pm. So I spent most of my time on grains this morning. ES/SPX pushed down after open to clear the deck It stopped right at yesterday's low and lifted back to mid before the release. The minutes didn't have any surprises. Indices ended with no change maintaining the uptrend posture. RUT is the only one down almost one percent. However it alone didn't stir up much volatility. None of my naked bull puts or credit spread got filled. I just have to wait until the right time comes. I need to close the 2015 bear call in S-5 tomorrow and try to recover partial from it.

Grains broke down today. Corn had -2% and both soybean and wheat were down more than 1%. I close couple wheat and corn positions. I tried to lock in some profit in soybean bear calls but didn't get fill. I am still not clear how to deal with my corn bear calls. There are not a lot premium to roll out plus my positions are still deep in the water. I will study it again tomorrow.

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