Running a little tight on margin with the CL exposure. Changing the way I trade this thing. That's not good. I'd rather have bought back SPY shares.
Selling that put wasn't my best idea. Too little premium. It's OK for now. I may want to get long and the put don't cut it.
Sell the ES Aug29 2005C for 3.00. Bit of a compromise solution there. I like the shape of it now. The late open caused some loss of confidence in what I was doing. I like the downside near term, but gotta respect the uptrend. I can trade the short Aug call ad nauseum for risk management. A decent drop gets me there. Time to relax. I usually don't trade in such a frenzy, but I screwed up the early part of the trade and wanted to see if I could fix it. Got a decent shot now, but all risk is to the upside. The trade now looks like +1 ES 1990C , -2 ES 2000C Sep monthlies. And 2000/2005 bull call spread on the ES Aug 29 weeklies. Here's a little compromise solution.
Tried to buy back short Aug call overnight, tried to sell put this morning. No fills. Looks like a quick short soon, maybe. Then long.
Hmmm...mulling this over. I'm already short, so perhaps best to wait for the long. I misspelled nauseam, dammit.