I only started to work on Tuesday afternoon after dropping off my guests to the airport from Yunnan. The market reaction to the FOMC announcement was very positive despite the word "patient" on raising interest rate was eliminated. Friday was the monthly option expiration. My P/L was up $2K without any losing position.
For the week most of my entries were in bear calls which may be a potential risk if the market continues grind up. Keep in mind my losses came from bear call side most of the time. My task for next week should be refrain from selling bear calls. I paid attention to chart setups in determine which market to trade. RUT made new highs and was at top of the BB on weekly and daily. I sold more calls in this front. SPX/ES hasn't made new high so I am waiting for more upside. My first round of selling calls in SPX on Fed day was too early and emotional driven. I made a note on that day's review.
Grains recovered from recent contract lows. My letting decay plan has worked. I will continue to manage my risk and reduce my presence in this front. I will stop trading soybean once I am out of my current positions.
No comments:
Post a Comment