My plan:
Indices popped on better than expected US job report. ES and NQ are up on the edge of their CHVA. We may see a break out to the next trading range above 2065 for ES. Hypotheses two is indices may chop around 2060-83 area since there are couple of CHVN there. My plan is to manage my risky positions and add on put side if possible.
Yesterday, I totally forgot the job report was coming up. I was not suppose to trade before job report according to my trade plan. I over traded 4 bear calls.
Corn and wheat are holding their bull flag patterns. My plan is the same. I may add 1-2 bull puts in wheat since I had some cars left from last fall.
My execution:
Indices didn't move into the next balance area as my hypo 1 expected. Market may be concerned about Fed's rate move since the job picture is prettier. ES tested above the CHVA of 2065 and got a clear rejection. Market moved lower later session as trades were closing their positions on this monthly options expiration Friday. I only had one order filled for SPY Feb wk 4 190 put as part of recover for my call 209. I put in some RUT bull puts spreads but none of them filled. I compared QQQ margin and premiums. It's better than SPY. I may start to use it instead.
Grains explored the down side but recovered most before closing. My add on in wheat didn't get fill. I only had one bull puts risk reversal filled to improve my margin. Over all it was a frustrating day. However, the break out didn't happy in indices which may give me a better chance to exit SYP 209 next Monday with a little more time decay.
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