My plan:
Indices have had no meaningful move but held up in Friday's upper range. China/HK markets continued parabolic move up adding another 2%. I am holding my temptation of getting in since there has been no pull back for me to enter. I am following my rules despite missing short term emotional satisfactions. US indices are murky and hard to predict the immediate directions. The overall trend is still up. No any major news release is scheduled today. Therefore I will continue to sell bull puts as my main activity.
Wheat gave up all of Friday's gains overnight on wet weather conditions. It broke last week's low before open. Corn is still in the downtrend and on the edge of CHVA.
My execution:
Indices push up right off the gate. RUT made a new all time high of 1272.5 but was knocked on its head back to prior day's high. ES and SPX were pushed down on an attempt to break out of current balance. I tried to sell some put but no fills. I may get a better opportunity if we see a follow up down push.
Grains moved lower again today. Last week's export data continues to be weak. Wheat lost more than 4%. My 510 put for this month was pushed in the money. I had to make a combo to roll it to June puts and call. Grains are way off their seasonality so far this month. I still have a wheat 510 of this month to be dealt with.
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