My plan:
Indices staged a come back overnight. Apparently yesterday afternoon's sell off was Greece related again. US indices futures were pushed up after European open. ES is back near yesterday's high and the upper trend line again before open. I plan to manage my bear call risk and exit mature puts.
Grains held overnight. I still think the lows are in for the near term. My plan is still to manage risk, reduce positions.
Getting up on time gives me time to prepare for my work. It feels good.
My execution:
ES opened up and only pulled back to yesterday's high. It closed above current down trend line and at high of last week. If ES/SPX close above current balance of CHVA we may see a start of new balance area. Current balance area has been thoroughly auctioned. RUT has a similar situation as SPX. It's closer to new high than SPX. However the weekly and daily BB bands are in a narrow squeeze mode. It may not have a whole lot to go for now. I sold RUT Mar 2, 3 bear calls spreads and SPX Mar 3 call spread. I closed ES 1850 this week and SPY 180 call next week partial. I also sold Feb 27 SPY 213.5 calls to get ready for taking stop of Feb 20, 209 which is under water at 3x loss. I will try to sell another set of put to make a partial or full recovery. I should be more patient on the call side and limit my size too. A new break out usually have a lot more energy.
Grains broke out from yesterday's pull back. The lows are well set now. I didn't have any filled orders. I will start looking at adding bull puts tomorrow and reduce calls.
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