My plan:
Indices stayed in yesterday's range overnight. 10 yr treasury dived lower. Could it indicate a limited downside for indices? I will watch to see if there are opportunities to sell bull puts spreads if market break lower or buy small amount of ETF puts if we get a pull back to mid of the range.
Grains had similar situation as indices. My tasks are: 1. monitor and reduce risks, 2. lock in profit and reduce margin. CME increased margin requirement and my available margin is at $25K now.
My plan:
Indices have been pushing up all day long after open. ES/SPX closed Monday's gap and held well at closing. RUT made back to BB/M. One of my setups is to short on pull back to mid let it roll over. I am not sure if either SPX or RUT will play out because of the uptrend and seasonality. I bought SPY and RUT puts of next week to see if my set up would play out. I will be nib and be ready to scale out quick. I exited my only ES bull put in IB to release some margin.
Corn and soybean broke down. I got some relief on the call side and booked some profits. Wheat is still holding up well but two attempts of break up didn't work out. Many people don't believe it had gone this high. I will wait for a confirmation or either direction while book any profit I can get or roll over my underwater positions. I need to roll out of this endless circle. Stay heavy on one side or totally withdraw and stay on sidelines.
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