Bean option comment from Jon Karmin

Beans corrected somewhat after yesterday’s sharp rally.  We neared last month’s high during this rally and I would not be surprised if there was another surge to completely force out the remaining shorts.  For the next two weeks we will be trading these numbers in this report so I don’t see much a break in the short term.  When the combines start to hit and we get some yield numbers things may be different.  SX vol 22.25 down .75, SF vol 20 down .5.

 

Straddles

SX 1380 83-85

SF 1380 118-120

 

Obrien Sold 750 Nov 1400/1500 Call spds 23.875-27 credit

UBS Bot 300 Nov 1450 Calls 23.5/ Sold 99 Nov futures 1396

Obrien Sold 1000 Mch 1000 Puts 1.5-1.75

Obrien Bot 200 Jan 1400/1500 Calls spds / Sold 200 Nov 1350 Puts 9.75 db

Tenco Sold 200 Oct 1360 Calls 40.5/ Bot 154 Nov futures 1394.75

Obrien Sold 200 Nov 1500 Calls 12.5

Rosenthal Sold 200 Nov 1390 Puts 42

FC Stone Bot 600 Nov1 360/1300 Put spds 16.625/ Bot 120 Nov futures 1395 Rosenthal Sold 800 Nov 1450/1550Call spds 13.75 credit

Rosenthal Bot 1000 Jan 1400 Calls/ Sold 1000 May 1400 Calls 8-9 db

JP Morgan Bot 1000 Nov1 420 Calls 27.5-28.5/ Sold 390 Nov futures 1385

ADM Sold 200 Nov 1290 Puts 8.5

ADM Sold 200 May 1400 Calls 43.5

Rosentahl Bot 1000 Jan 1000 Puts .75

ADM Sold 200 Mch 1360 Calls 65

Macquarie Bot 1000 Nov 1320/1270 Put spds 9.75 db/ Bot 120 Nov futures 1383 Rand Bot 500 Mch 1300 Puts/ Sold 500 mch 1400 Calls even-2 credit

Rand Bot 500 Mch 1280 Puts/ Sold 500 Mch 1380 Calls 14-16 credit

Obrien Bot 200 Nov 1460/1500 call spds 6.5 db

 

Jon Karmin and Jeff Pogonitz Brokerage