Bean Option Recap

Bean traders woke up and realized that there is no such thing as too much rain for beans this time of year.  Recent rains have only replenished depleted soil moisture levels from last year’s drought and planted some ideas that corn acres will be switched to beans…both negative to beans.  Both new crop and old beans are trading lower than Friday’s close completely wiping out Monday’s rain induced rally.  I believe there is a lot of room on the downside in beans and particularly in corn after pollination.  Vol was generally steady.  SM 19.25 steady, SN vol 19.75 steady, SX 20.75 down .25.”

 

Straddles

SM 1380 54-56

SN 1380 81-82

SX 1200 138-140

 

Bunge sold 200 jul 1460 straddles 110-110.5

Fimat bot 1000 sep 1100/1200 call spds 75-76 db

Bunge sold 200 nov 1080 puts/ sold 200 nov 1200 calls 97 credit.

ADM sold 200 jul 1380 calls 37.5-40

Fimat sold 500 July 1450 calls at 14.25

Tenco sold 500 July 1450 calls at 14.25

Fimat sold 2,000 Nov 1200/1240 call spreads at 17-18

ADM bought 350 June 1350 puts at 16.75-19.5

ADM sold 250 Aug 1300 puts at 36

Fimat sold 500 July 1250 puts at 6.125

Tenco bought 200 Nov 1200/1300 call spreads at 36.25

Obrien bought 2,000 June 1420 calls at 11-11.25 and sold 480 July futures at 1375

Rosenthal bought 500 Aug 1320 straddles and sold 500 July 1380 straddles at 28-28.5 debit

Rosenthal bought 250 Nov 1140 puts at 39.75 and bought 78 Nov futures at 1207

ADM bought 200 Nov 1200 straddles at 139-139.25

ADM sold 250 N/X CSO 170/250 call spreads at 21-21.5

 

John Karmin and Jeff Pogonitz Brokerage (bean option brokers)

 

 

Thank you,

 

Kate Rosenberg