My plan:
Indices moved a little overnight. Jobless claim report came out close to expected which didn't move the market much. 10 yr notes are down which may be a telling of equities. I am waiting to see if we get a break out one way or another. RUT is more likely to the up side and may be a leading force for others. I will hold off from selling calls.
Grains are titled lower on this WASDE day. I may not have much luck to get out my bull puts in corn and wheat before the report. Seasonality is not bearish but anything can happen on these report days.
My execution:
Indices held up well despite the slightly disappointing jobless claims. ES broke both overnight low and high. It closed above yesterday's high which is a positive sign. I had only one trade, Thomas's scalping in SPX credit spread. It looks like I should be able to close it tomorrow or Monday for a 80% of quick profit.
USDA report didn't produce a big reaction in corn and wheat which I consider to be lucky. No trade in this front. I will start to exit or rollover my wheat bull puts if wheat has no follow through sell off.
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