Bean Option Recap By Jon Karmin

Corn and bean markets saw fronts losing to backs after an early surge.  July options expire on Friday and we may see some volatility in the underlying before new crops move to the front options.  Vol was steady to soft. SN vol 18.5 unch after time decay, SQ vol 23 soft, SX vol 22.75 down .5.

Straddles

SN 1510 22-23.5

SQ 1440 84-86

SX 1300 138-140

Obrien Bot 300 Nov 1280/1380 Call spds/ Sold 300 Nov 1200 Puts 4-5 db

GFI Sold 200 Jul 1500 Puts 4.25

ADM Sold 600 Jul 1500 Puts 3.25-5

Obrien Bot 200 Nov 1300 Calls 65

Bunge Sold 300 SDFU 1200 Puts/ Sold 300 SDFU 1360 Calls 45 credit

JP Morgan Bot 500 Jul 1460 Puts/ Bot 500 Jul 1560 Calls 3 db/ Sold 40 Jul futures 1520

ADM Sold 200 Nov 1420 Calls 27.75-28

Tenco Bot 1000 Jul 1540 Calls 7.5-7.75

Obrien Sold 250 Jul 1550 Calls 4

Mizuho Bot 600 Nov 1280/1380 Call spds/ Sold 600 Nov 1200 Puts 7-7.5 db

Mizuho Bot 300 Nov 1280/1380 Call spds / Sold 300 Nov 1200 Puts 6.5 db/ Sold 300 nov futures 1291

FC Stone Bot 200 Jul 1500 Puts 3.875

ADM Sold 200 Aug 1510 Calls 17.5

Bunge Bot 300 Nov 1200 Puts 32-32.5

FI Bot 2000 Nov 1200/1100 Put spds 21.25-21.375 db

Jon Karmin and Jeff Pogonitz Brokerage

Thank you,

Kate Rosenberg