My plan:
Indices futures held Monday's high (a half day) overnight so far. FT71 disregards such data. ES has touched Fib 38.2 RT on this Dec-Jan down slop on daily. From volume profile stand point ES has auctioned this CLVA and in a balance zone. It can go either way. I plan to fill in indices ETF or spreads on both up and down in smaller accounts.
Grains continued to test lower. Wheat and corn look like may get a bounce from the charts. My plan is the same as last week, continuing to manage risk, reduce my holdings while locking in profit.
My execution:
No trade in indices. I tried to add ES, RUT on both side but none filled. I was thinking there was a possibility of sell off since the AM selling was strong after ES hit Fib 38.2 RT pre open. Then it held at 1997. I was busy trading grains. I didn't want to sell calls since SPX/ES were just turning up. RUT closed in red.
Grains turned up before closing after their early sell off. I made one rollover and one risk reversal in wheat. With the pop, the rollover looked working better than the risk reversal from put to call. I also locked in $1K profit on another roll of July 720 to 710 calls. I also reversed a Mar 400 corn to April 355,350. I am not comfortable with Mar 400 calls. They can be punched through easily. I also reduced positions in corn and soybean. My margin is at a relative safe level of above $50K.
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