Bean Option Comment

Beans took out the old low and charts are beginning to look ugly. Not much here today but a lot of interest in new crop. Option flow is telling me there is a strong opinion SX will go to $10. Time will tell.

Straddles
SK 1380 45-46
SN 1360 77-79
SX 1240 149-15

ICap Sold 500 Jul 1500 Calls 8
ADM Bot 600 jul 1500 Calls 8
Fimat Bot 250 Sep 1460 Calls 8
Mizuho Sold 300 Nov 1260 Calls 62
Mizuho Sold 300 May 1380 Puts 20/ Sold 300 May futures 1384.5
Tenco Bot 1100 Nov 1260 Puts/ Bot 1100 Nov 1360 Calls 120-126 db
ADM Sold 200 June 1370 Straddles 69
ADM Sold 300 Nov 1340 Calls 38
Tenco Sold 200 Jul 1420 Calls 21
FIA Bot 600 Nov 1260 Straddles 151-153.5
Bunge Sold 200 Shortdated May 1240 Calls 16
ABN Sold 500 May 1450 Calls 4
Fimat Bot 500 Jul 1340/1400 Call spds 25.5 db
FIA Sold 300 Jul 1400/1430 Call spds 8 credit
ADM Bot 100 May 1460 Calls 2.875
JP Morgan Bot 500 Jul 1420 Calls 20.25/ Sold 150 Jul futures 1355
Bache Sold 400 Aug 1460 Calls/ Bot 400 Sep 1320 Calls 25.75 db
FC Stone Sold 400 Jul 1400 Calls 26

STRADDLES> May 1380 45-46/ July 1360 87-89/ NOV 1240 149-151
VOLS> MAY 16.25 unch/ JULY 17.25 up .25/ NOV 20.25 up 1

– Jon Karmin/Jeff Pogonitz Brokerage (Bean option brokers)