My plan:
The NFP released at 8:30 indicated 223K jobs created v.s. 224K expected. Market took it as a good news as the economy is still growing unlike the poor GDP number pointed earlier. Market shoot up on the news. ES is at high end of the CHVA around 2103-06. I will wait to see if there is a break out above 2112. The all time highs for ES/SPX are 2119.75 and 2125.92 respectively. I should wait until a confirmation of break out or down before committing bigger positions. I may only add strangles or iron condors if we get chop around to take advantage of weekend decay.
Corn and wheat may come back to retest their break out area. I shall wait again to see if the retest will hold.
My execution:
Indices went up 1% or more on NFP. Even though none of them made a new high but SPX looks about to break up or get knocked down next week. I stayed away from selling SPX. I sold another set of RUT calls in Etrade to form another Iron condor for June 3. I closed couple of positions for next week in SPX and RUT.
Grains recovered some but no break out. No fill for me.
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