Night Trading

I missed a hedge in one of my option strategies yesterday. I had to buy some SPX call options and due to a bunch of reasons, all my own fault, I missed the buy as my original limit order was not filled and I didn't manage the order as I should have.

OK, what to do? Options in the SPX don't trade outside of RTH. My fallback position was the futures. As you probably saw, there was a pop in the ES near the close, so I judged that there would probably be a pullback during the night. I then picked a spot where I thought the pullback would hit - I looked at the Profile as well as my bar chart. I placed my order at 1317.00 and was pleased to see a fill when I woke up. It was an awesome buy as the low was 1316.75. The market was trading over 1319.00 at the time I woke up so I was doubly pleased. My ES hedge was an over hedge, as I thought that if I filled there I should buy more than I needed as value was moving higher.

This morning, price firmed up very quickly after the London open and I was able to sell my excess ES at 1327.00. Might be worth doing this night trading more often.