Bean Option Recap

Classic blow off the top close lower action in beans today.  Any bean short which wasn’t in for the long term got stopped out today.  This is not a market for any participant with a weak stomach.  The high in SF at 1340 may be it for the time being.  The market rallied 80 cents in less than a week and was clearly overdone.  The SF/SH spread closed very weak which indicates to me there is more selling down the road.  SF vol 15.5 up .875, SH vol 16.75 up .5, SX vol 16.25 up .25.

 

Straddles

SF 1320 44.5-46.5

SH 1310 82.5-85

SX 1160 142-147

 

 

ABN Sold 300 jan 1320 Puts 15.5

Fimat Bot 250 Mch 1350 Calls 28.25-28.5

Obrien Sold 400 WK5 1340 Calls 4-5

GFI Bot 200 Mch 1250 puts/ Sold 400 Mch 1200 Puts/ Bot 200 Mch 1150 Puts 4.25 db

Morgan Stanley Bot 500 Jul 1300 Straddles/ Soild 500 Nov 1160 Straddles 17-18 credit

ADM Bot 300 Jan 1280 Puts 6-7.375

Rand Sold 300 JAN/MCH CSO 20 calls 3.5

Rosenthal Sold 500 Jan 1320 Calls 26-28

Rosenthal Sold 1500 Nov 1200 Calls/ Bot 1500 Jul 1300 Calls 5 db

ADM Sold 500 Jan 1320 Calls 25.5-26.25

GFI Bot 2500 Mch 1300 Calls/ Sold 2500 Jan 1300 Calls 9-11 db

Bunge Sold 200 Feb 1260 Puts 13.5/ Sold 48 Mch futures 1320

Macquarie Sold 200 Jan 1320 Straddles 44.5/ Sold 10 Jan futures 1322

Rand Bot 2000 Jan 1300 Puts 13.5-16.5

ADM Bot 500 Jan 1360 Calls 8

 

 

Jon Karmin and Jeff Pogonitz Brokerage