My plan:
ES pulled back to the mid of yesterday. It looks like filling in the CLVA continues. RUT and NQ are the same. I will try to place some credit spreads in SPY and RUT. Get my rest of VIX bear calls filled and buy a small position of long calls for year end.
Grains are waiting for the WASDE report. Will try to lock in wheat profit and wait for the report.
My executions:
It was a busy day in equity market. ES/SPY broken down in afternoon. I was under the expectation of retesting the CHVN, then moving up. I had 2 set of SPY naked bull puts for week 3 and 4 filled based on this scenario. However, my hypo two of last night played out and my SPY naked puts got crushed. RUT had an interesting day as well. It dropped 2.2% after 1.8% gain yesterday. It is still showing an inside day on daily bars. I had 3 RUT bull spreads filled today. One was a key in error which I selected Jan 15 instead of Dec 31. I need to get out of it quick. VIX sky rocked today. I had bear call of 22@25C left from yesterday filled. I also legged up another set to 23@35c. Get to watch for my risk of VIX even though they are above Nov's high. I also entered a ES Dec 26, 1920 bull put based on my early bias which was crushed too. I have a ES 1950 bull put for year end is at stop point now. I need to exit it out tomorrow unless we have a good turn around overnight. I can enter a lower trade to recover most of the lose. Actually the pull back was clearly showing in seasonal charts but I didn't look at it closely over the weekend. Otherwise I could have prevent some of the losses in my directional options from last week.
Grains didn't have any strong reactions to today's WASDE report as previous months. Wheat and soybean were somewhat bearish. Corn had lower ending stock and recovered most of losses as of this writing at night. Lowered dollar may have helped some too. I locked in a March soybean profit and rolled over a Dec 580 wheat bear call to March. Nothing else was done. Will watch for any follow through in pricing tomorrow.
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