My Theses and Plan:
Indices futures stayed up overnight despite 6% drop in Shanghai. ES may be moving to its next balance area if it close above 2108 today. It may also come down to auction some thin area it left yesterday. My targets for ES are:
Below, 2092 (o/n low), 2085 (edge of CHVA),
Above, 2105 (b/o O/N high) and 2112;
RUT is stocked in the mid of its CLVA of 1202 and 1231. It's weaker than SPX and NQ. I may sell more calls than puts. My targets for RUT today:
Below: 1216 and 1211;
Above: 1228, 1232 and move into CHVA if closes above 1233.
My plan is to sell both sides since it appears a choppy session. I will try to close more positions to lock in profit.
Grains lowered overnight. I will try to close my current month positions. It may get volatile again toward end of this week with some pining actions.
My execution:
No follow through in indices today. They were range bounded within upper part of yesterday. I only sold couple RUT Sept puts in my ET accounts. Perhaps market is waiting to read tea leafs of Fed Minutes tomorrow. I better to hold off my indices trades after the Fed minutes released tomorrow. I can spend some time to deal with my wheat and corn positions in the morning.
Wheat and corn are still weak. I had one wheat 460 exited. I need to double check my grains' positions tomorrow.
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