Bean Option Recap

Disappointing day with very little action. We ended last week with a promising situation which felt like the market was going to move. Vol popped and fear re-emerged. Cheap puts which only days before were worthless came to life. With beans trading higher today vol buyers disappeared. Vol was off old crop and up new crop. Wednesday’s supply and demand number and bird flu in the back of everyone’s mind should hold these levels. SK vol 16.5 down .75 SN vol 17.75 down .75 SX vol 21 up .5.

straddles
SK 1380 41-42.5
SN 1360 86-88
SX 1220 149-151

Obrien Sold 300 May 1380 Puts 21.25-27
Obrien Sold 200 May 1400 Puts 33.5-39.25
GFI Sold 300 May 1400 Puts 36.5-38.25
Obrien Sold 300 Jul 1300 Puts 20.25-21
Bunge Bot 300 May 1520 Calls .5
ABN Sold 1000 May 1320 Puts 4.75-5
ABN Sold 1000 May 1340 Puts 8.125-8.25
Bunge Sold 200 N/X 150 Calls (CSO) 18
Rosenthal Bot 250 May 1400 Calls 12
Bunge Sold 200 Short dated July 1270 Calls 20.5
ADM Bot 600 Nov 1400Straddles 222-223.5
FIA Sold 200 Nov 1400 Straddles 223
Fimat Bot 450 Jul 1250 Puts/ Bot 450 Jul 1450 Calls 22.75-23 db
FC Stone Bot 400 May 1300/1280 Puts spds 1.125 db
FIA Bot 200 may 1400 Puts 35.5
Tenco Bot 1500 May 1320 Puts/ Sold 3000 May 1260 Puts 2.75 db
JP Morgan Bot 350 Jul 1400/1500 Call spds 19.25 db

Straddles> May 1380 40.5-42.5/ Jul 1360 86-88/ Nov 1220 149-151

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