My plan:
NFP came out slightly lower than consensus (223K vs. 231K). Futures pushed up to a little. Today's ES level: UP: 2079-2083, 2087-90; Down: 2070-67, 2063-2058; RUT: UP: 1262-64.8, 1267-69; Down: 1251-49.7, 1246.7-1243.
I will trade light in both indices and grains before the long weekend and Greek referendum.
My execution:
Market drifting down after open. NFP didn't inspire market. ES touched my 2nd low target then bounced before closing. RUT also moved into my 2nd down area. I sold some mid Aug spreads to fill in some empty or underwater spots. I also sold to Weekly Scalp 100 where I could make them into Iron Condors. I feel that selling within 35 DTE tend to get me underwater when volatility increases. I may start to sell above 50 days first to establish my initial positions. Then I can wait for additional swings to add on new positions. This would be a more systematic approach than my current sling shot approach. Also, I will use Probability of Touch instead of PITM when volatility is above 15.
Corn made a new high of couple cents while wheat gave back all of today's gains. I sold 2 corn Sept 550 call for 2.125 based on seasonality. I am waiting to see if wheat's HS top pattern would play out.
Now all eyes are on Greek referendum this Sunday. I will reduce some market exposure next Monday and Tuesday since I am going to take a family vacation on next Wednesday.
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