Wednesday, July 22, 2015

Clear Deck Before FOMC 7-22-15

My plan:

Indices futures continued to move lower overnight leaving a 9 point gap for ES. Earnings season gives a good excuse for trade to move market down before next week's FOMC. For ES, above are 2108 gap closing, 2113 to back in yesterday's range. Below are 2103, O/N low and 2097, balance low. RUT gaped down below CHVA of 1253. My ranges are: above 1252.5 closing the gap, 1257.2 back to CHVA. Below: 1245, gap zone below and 1241 into VPOC.  I will try to sell on both side base on my rules.

I am still waiting for Grain to show signs of stabilization.

Executive:

ES hit my first target on both side in a choppy way. I lost on SIM. I didn't get most of my selling done. The bad habit of nickle guy is back and made me missed a sell in ES. I hate that habit of being a nickle cheap. I sold a RUT Sept 3 1350 call to make a strangle.

Corn and wheat made attempts to push up but failed on closing. They both are in CHVA. I sold one Oct wheat put below low of this yr.

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