My plan:
Indices futures traded higher overnight on European market push up. ES breached yesterday's high of 2106.5. It's likely to test 2112 area today with another attempt to make a new high. VIX futures is ready to break to a new low. RUT tested Fib 38 from below on weekly. Its next target is Fib 50 RT at 1250 area. I will try to sell RUT calls and stay away from ES/SPX calls until it's clear from break up or break down.
Wheat and corn pushed to USDA report highs overnight. I may sell corn calls and rollover wheat puts.
My execution:
ES/SPX broke recent high of 2119 and closed at above it. It appears to ready to challenge their all time high of 2126 area. Are we going to see a double top again or a real break out. The daily bar looks pretty strong. I didn't sell any ES/SPX calls today. I want to see if we have a real break out or not. I sold couple of RUT June bear calls which are only at 50% rt of recent drops.
Grains staged a very impressive break out on short covering. Wheat went up 6%. My rollover of 510 put was filled before 4% RT. Wheat is now firmly above $5 marker. I get some breath room to deal with my bull puts now. I will close and roll more wheat positions tomorrow and early next week. I sold my first corn bear call in about a month based on seasonal.
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