My plan:
Indices futures dropped on concerns higher rate in Europe overnight. ES went below yesterday's low. It's trying to move back to yesterday's range at 9 AM. There is a gap above at 2114. It appears that yesterday's high was rejected and ES is back into CHVA of current balance area. My view for today is ES high: 2113.5 , 2116 and 2120; ES low: 2100, 2096-94. Below 2090 is a game changer. I would sell puts a little more aggressively to form more Strangles and Iron Condors as I am a little top heavy. My focus should be in the late part of July to avoid my possible absence during my planed summer travel.
Wheat moved back to yesterday's low. On the chart the retest of early May's low and held indicating the low is in for now.
My execution:
I got fooled by today's price action in indices. There was a strong rejection at overnight low so I thought it was going to be a range day again. I entered many puts and put spreads for July. Most of them got filled before 1 pm after ES/SPX broken yesterday's low. Now, all of my July's SPX and RUT are paired with strangles or Iron condors. I also sold 2 sets of next week SPX scalps at 2000 and 1990. Let's see what job report will bring tomorrow. I will be more conservative since now. I closed couple of next week's puts and my margin level is fine.
Wheat held above 5.10. I may spend some time on wheat and corn tomorrow. No trade today.
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