Bean Option Recap

Beans again lost to corn. The spread has been losing ever since corn got annihilated after planting intentions. More importantly vol bounced particularly in downside puts in SK. There are some rumblings about bird flu in China and if there is panic in the market we could be in for a wild ride. Vol is extremely cheap and there are a fair amount put shorts below $13. There was nervous buying today. Next week should be interesting. SK vol 17.25 up .75, SN 18.5 up 1, SX 20.5 up .5

SK 1360 45-47
SN 1340 87-89
SX 1220 147-151

Cunningham Bot 400 may 1300Puts 5-5.25
Tenco bot 1000 May 1320 Puts 7.75-9
Tenco bot 1000 May 1340 Puts 14-14.75
Obrein Sold 500 may 1360 straddles 45.5-60
ADM Sold 650 May 1350 Puts 17.25-20
Macquarie Bot 500 Jul 1400/1500 call spds 16 db
Macquarie Bot 200 June 1340 Straddles 67.5
Mizuho Bot 300 june 1340 Calls/ Sold 600 june 1420 Calls 16.75db
ABN Bot 200 May 1380 calls 13-13.5
Macquarie Sold 400 may 1360 Straddles 45
Bunge Bot 500 May 1400 calls 7.5-7.75
ABN Bot 200 May 1420 puts 67.5
ABN Bot 450 may 1200 puts .75
Fimat Bot 200 nov 1100 Puts/ Bot 200 Nov 1400 calls 50 db
Rosenthal Bot 900 Jul 1460 Calls 9.5
ABN Bot 300 May 1400 Straddles 59.5-60
ADM Bot 1000 Jul 1400 calls 22.5-23.25
ABN Bot 400 may 1320 Puts 9

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