My plan:
Bulls have been holding up in a small new high range for 5 days. But bulls nor bears have not been able to really break away. This situation may not last long. Overnight, ES popped on Greece debt proposal but got a clear rejection. It is moving lower after US jobless claim slightly higher than expectation. The ES down side levels are 2083, 2068 and above at 2099, then 2105. I plan to sell puts on weakness on FOTM. It could be another range day since tomorrow is the monthly options expiration day.
Grains are still postured lower except soybean. Corn and wheat are in CHVA. My plan is still the same. I need to watch March wheat 515 put. It's currently 10 point away. Be ready to exit out.
My execution:
ES overnight high got sold off on jobless claim numbers and overnight low held after open. It looks like that buyers are still in control. I tried to sell on both side but no fill since there were no break out on each side. My GTC order to close SPY Feb 4 213.5 calls got filled right at open. This is the only trade I had in indices.
Grains continued their volatile explorations. Corn recovered its loss from yesterday. Wheat popped up after open and sold off partially at close. Soybean moved up as well. My wheat puts of 515 closed during the up swing. The only thing I have left is Corn 400 calls. It could get pinned tomorrow at expiration day. I must close it before lunch tomorrow.
No comments:
Post a Comment