My plan:
Indices futures moved up on Greece Parliament approval of the bail out package. ES moved up to 2115 with a near 10 point gap. TF is near the gap zone of 1271. ES/SPX are set to challenge the all time high of 2135 in May and possibly to make a new high. My targets for ES to the upside: 2118, 2123 and 2125 for new high. The downside is 2107, 2104 and 2100. As for RUT, I am looking at 1279, 1284 for the upside and 1273 and 1267 to the downside. I will cautiously to sell bear calls into my empty slots and aggressively sell bull puts.
Grains turn around to upside. My plan is to close my wheat and corn positions for July.
My execution:
ES/SPX gaped up and didn't even attempt to fill a half gap. ES got to 2117.5 near my first target. RUT was weaker than the rest of indices. It still couldn't close the break down gap. Let's see what they would do on tomorrow's option expiration day.
Wheat and corn fall back but didn't quit get to yesterday's low. I sold Dec wheat 450 puts for recovering my July calls before last week's USDA report. Wheat broke yesterday's low in the evening session. I will re-access my approach to puts and calls tomorrow.
No comments:
Post a Comment