Friday, April 24, 2015

Topping? 4-23-15

My plan:

ES has been down on European session and up during the day session for the last few days. It hasn't been able to break up or down. It has been in current range from 2028 to 2108 since Feb.   A rumor of Greece agreement may be near. It could be a catalyst to move the market. I will sell puts and call spread with any pull back or pop.

Grains inched up a little overnight. I will close my last put position for May 540.

My execution:

ES/SPX broke up before lunch. It made a new high and closed above its current range. It looks like the trading range from Feb is broken out. The average range for ES/SPX is about 60? I sold two set of credit spreads on the call side for early June. I may leg in more if it legs up again tomorrow.

Grains pulled up well early on, only got to sold off before closing. I closed my last 540 bull put and rolled it to Sept. It's a up period according to 5 and 15 yr seasonal. Corn dropped below last week's low. I may consider to let in on bull puts tomorrow.


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