Trading Quad Witching

Yesterday's action fit expectations well. This is an overnight chart of the S&P futures with a beautiful A-B=C-D pattern. I'm showing it because it's the first time I've seen an overnight Fibonacci target hit during the daily session. The market is always changing, so I must adapt too. 1227.50 was hit (just .52 short of the target), allowing me to bring down my average in the SPY 125 calls. On the upthrust that followed, I was able to to put on a partial hedge with SH. Today being Quadruple Witching, I can adjust this hedge if the market gets to extremes: above 1242.25 or below 1227.50. I'm still looking for at least a test of 1240.50.