My plan:
Indices futures went down natch lower overnight. They may test lower and return to a nurture area giving the Friday and next week's FOMC uncertainties. Hypo 2 would be a hard break to test 2005-1997 CHVA. I don't have a lot of room to add my positions except preparing for stops. I will release margin from my naked indices bull puts.
Corn and wheat popped up overnight crossing $4 and $6 respectively. Soybean is in range. I will continue to adjust underwater positions and lock in profit where I can. Will let the others take time decay over the weekend.
My performance:
Indices were pushing up right after opening. I thought my hypo one was going to play out. It turned out to be a head fade. ES/SPX got pushed down after closing the daily gap above. I closed one of my RUT naked bull put after missed the morning run up by a tick. My bad habit of moving target made me sweat for several hours until a pull back in the early afternoon. It was the same pattern as yesterday. A final sell off happened in the last hour. I wasn't sensitive enough to turn into defensive mode when the sell off was clear in later afternoon. I didn't check some of my pending orders in SPY and RUT bull spreads and got filled right after cash closing. My VIX stop / roll over didn't get filled due to the same price moving habit but my recovery order got filled later. Now I have more VIX orders than I planed. My margins are still tight. It's at $20K in IB account and may not be enough to withstand another shock on Monday.
Grains closed higher across board. I locked in profit for a March 520 bull put and a dried Jan soybean position according to my morning plan. I didn't get chance to rollover my any of my underwater bear calls. I was thinking to let them decay a little more over the weekend. I didn't complete my plan today. I will look for opportunities to reduce my grain positions to increase margins.
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