The weakness from Friday and yesterday coming through today a bit as it tested that 1175 support level that I mentioned a few times as key support level. However we closed well off the lows and close was exact same level as yesterday's close 1182.75 in the S&P Emini futures. The volatility rose more than I expected and my plan was to offload more short calls at the end of today's session, but that didn't really work out as planned.
Trading wise the portfolio was down 0.42% on the day.
Lost about 2 points in the futures and traded some intra day tradig on the 1190 calls expiring 29 Oct and I also sold 1180 call for expiration 29 Oct.
Seems to be chopping around quite a bit and I am still looking for a correction lower, but as long as we don't see a daily close below 1175 the trend is up.
That is all for now, have a nice day
Daily blog with thoughts and comments on the futures and forex markets through the eyes of Per-Erik Karlsson, Ceo at Avantage Financial, Switzerland.
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