My plan:
Indices gave back about 055 overnight. ES is down about 10 points at the writing and in the CLVA of 2060-2080. I plan to sell puts on break of overnight low and possible gap fill at 2052. I will wait if it break out of 2080 I will be hands off and watch.
Grains stayed down within yesterday's range. The USDA Acreage report is known for its surprises. I should watch soybean positions as it's not following the seasonality. I will evaluate wheat's price action a hr after the report and plan risk reversal later today or tomorrow.
My execution:
Indices chopped most of the day and started dropping in the last hour of trading. I had 3 of SPX credit spreads filled plus 1 RUT. One ES got filled before lunch. I suspected a repeat pattern of down ward ABC may be in play based on today's closing and after hour's sharp drop. The key for next two days in ES is if the swing low of 2030 will hold. I may be overloaded in puts now. Need to watch my margin levels for each acct.
Grains had shot gun reactions with the USDA report. Corn and wheat were down sharply and soybean held well. I want to see if there are follow through tomorrow.
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