Bean Option Comment

Bull spreading took over the floor today.  Forecasts turned wetter from last week and it was enough to jumpstart corn.  Beans then followed.  SN/SX traded as high as 211.5.  The market could take these spreads anywhere.  Additionally, options buyers surfaced primarily in SN.

 

 

Man sold 300 Aug 1390 Calls 27-31.75

Tenco Sold 200 N/X CSO 200 calls 30

Rosenthal Sold 400 Nov 1260 calls/ bot 800 Jul 1440 Calls 3.5 credit

Icap bot 500 jul 1420 Straddles 70-71.5

ABN Bot 500 Jul 1400 calls 38.5

ADM Bot 200 Jul 1400/1440 Call spds 16.75-19.25 db

ADM Bot 300 June 1380 Puts 8.5-9.25

ADM Bot 500 jul 1400 calls 38.5-39.5

GFI Sold 500 Jul 1380 calls 48/ Bot 300 jul futures 1404

Rand Bot 250 N/X CSO 150/100 Put spds 8 db

Macquarie Sold 300 jul 1400 straddles 70

Mizuho Sold 600 nov 1160Puts 40.5

Mizuho Bot 600 nov 1260/1300 call spds 12.25 db

Tenco sold 200 N/X CSO 240 calls 12

Man Sold 200 june 1380 puts 7

GFI Bot 4000 Jul 1500 calls 9-11.5

Obrien Bot 200 Nov 1000 Puts 6.75

Obrien Bot 250 Jul 1420 calls 30.25/ Sold 120 Jul futures 1410

Bunge Bot 500 Nov 1100/1000 Put spds 15.5 db

GFI Sold 300 nov 1300 calls 33

Macquarie Bot 800 Jul 1420 Straddles 72.5-72.75 db

 

Straddles> June 1420  38.5-40.5/ July 1420  72-73.5/ Nov 1200 129-131

Vols> June 19 up 2/ July 19.25 up 1.75/ Nov 20 unch

 

Jon Karmin and Jeff Pogonitz Brokerage (Bean Option Brokers)

 

 

Thank you,

 

Kate Rosenberg