My plan:
Futures moved very little overnight but stayed near the top. ES/SPX are attempting another new record high. RUT is pulling back to Fib 50 from below on weekly. I will stay away from shorting SPX/ES. I may leg in short RUT by selling calls. I need to exit some puts to increase my margin. I will sell puts if ES come down to break overnight low. FT has it at 2095. I don't understand why my margin was reduced to 60K from Friday's 100K even I had more positions expired worthless.
Grains are pushing lower again. Corn and wheat are at lower end of their CHVA. Their bottoms from last week are not threatened. I will try to rollover my wheat of this moth again.
My execution:
ES/SPX tried to break up but didn't get much energy. They failed 0.5% at the end, but have not even revisited Friday's seen of crime. I sold a set of 8 SPX July 1, 1830 puts base on Karen's setup. Missed couple of RUT bear calls. Indices have stayed in this large top range for over 3 months now. We may see a rounded top if we can't break up from here.
Corn and wheat are still in bearish mode. They both try to move up but failed. My wheat May 510 rollover didn't get filled for the 2nd day. I will be more aggressive tomorrow. I failed to check the USDA report date. The WASDE is 12 PM tomorrow. I will set an order to try to get out May 510 put before 12pm.
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