Tuesday 31st of August

The S&P futures held that 1037 level on 2 occassions yesterday and  closed at 1048. It seems clear that the market does not want to break lower and I now favor a drive higher near term. Have resistance at 1065 and 1080 (0 Sigma on daily). I traded only to the short side Tuesday, protecting my short puts at 1030 and 1020 as a break lower would increase volatility and therefore I was giving up some premium to make sure I had a decent gain if price would move towards 1030. However it didn't move lower so I lost on the futures side, but that is ok as it was in the plan. I did sell another 1050 put for September when it failed to break lower since I was short the future, just to collect some more premium. I also sold 1065 calls for expiration on Friday 3rd of September, because I am thinking that if 1065 breaks the puts I have down at 1020 and 1030 will not come into play in the short term picture and the vols would probably come down a bit. Overall I now have 1050 straddle and puts at 1030 and 1020. Very small short call at 1065 for Friday and have short calls at 1070, 1080 and 1090 for September. Also have 1090 and 1100 calls for October. The most value is to the downside and I would like to see 1065 break before I look at hedging anything to the long side. Will come back with the final result for August tomorrow. Have a nice day