Lumber is forming a bull flag. It really needs to close above 188. I tried to add more pull back to 178, but it only came back to 180 and now at 185-6. The easy move was from 180 to 185, and now it needs to find its way out to go higher. Should it break above 188 and go to say 195ish, I'll add more somewhere around 188 which was previously resistance, becoming a support.
Oil report came out positive for crude, which I think helped nat gas. But I'm losing like $1K every day in the last three days and gain $1K in one day. It's a losing game. What gets harder is when commodities are approaching to zero, put premium goes down too. I'm trying to sell 3.5 May put, but it just doesn't come down enough and premium evaporates quickly. Jun contract has still close to 50 days to go, I don't want to sell June puts.
At the end, I have nothing to do but watching. I'm hoping to get $20K out of these two trades.
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