My plan:
ES and TF gave back the after hour gains of yesterday and retesting the break out point. We may see another leg down to test yesterday's low of 2091 for ES. My targets for today are: ES, Up to 2101-04, overnight high, 2108-11 yesterday's high, Down to 2092-89 and 2083-81. There is a gap below at 2082-2070, which is the b/o point for current balance area. RUT has a gap between 1241-1238. We may see 1235 below the gap, Above is 1244 for yesterday's closing and 1250 to get back to yesterday's range.
My plan is to reduce my puts and increase my margin in order to sell more puts.
Grains bear flags are play out. I will wait after today's expiration.
My execution:
Indices didn't get to close their small gaps from yesterday's closing. I was expecting a small range day towards down side. However, market had a very orderly sell off. ES/SPX lost 1% and RUT shred 1.46% during cash session. All of my iron condor positions on the put side were filled. The rest is in trading god's hand now. All of my put positions ended less than 10% pITM at closing despite I entered some of them too early based on my thesis today. I followed my plan to close some positions to reduce margin. All three closed naked puts were above 70% profit. I noticed these far DTE positions filled during high vol time actually can be safer and profitable even on the next weave of high vol.
Grains continued weak trend. Corn and wheat are nearing the Fib RT levels now.
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