My plan:
Indices turned up overnight. ES is moving towards breaking out above 2100. I will refrain to selling calls as the uptrend appear not exhausted yet. Other other hand if we pull back to 2090 I will be a seller again. RUT is upon the new high again and my plan is the same as ES.
Grains recovered slightly. I am still in decay mode.
My execution:
Indices broke up as expected. ES is closed on top of current balance area. RUT is firmly standing on the new ground. I made two RUT bear calls across my accounts. 1320/30 for May 2 which appears too close. The other one, 1340/50 for May 4 is at 1 STD, 8% PITM. I bent my plan of not trading call this morning. The driving emotion was to collect some premiums since I didn't have any trade for two days and I needed to make some money. It overcame my rule of safety first.
Grains tried to recover again. Wheat had another day of pop and drop. It's hanging on the cliff of current CHVA. Corn and soybean closed above yesterday's highs at least. I sold one wheat 440 put for June for 175 thinking to be more safe. The turn around may not come yet.
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