Bean option recap from Jon Karmin

Absolute sleeper in beans today.  The market won’t break yet fundamentals are somewhat bearish.  Consequently,  the market was in a bit of a holding pattern.  Some option buying and a lack of selling kept vol firm.  It feels like we may get a small bounce but I do feel it can be faded.  SX vol 22.25 up .25, SF 20 steady, SH vol 20 steady.

 

Straddles

SX 1320 66-68

SF 1320 104-106

SH 1300 131-133

 

Futures International bought 300 SF 1240 puts @ 20.75 and bought  66 SX futures @ 1322

GFI bought 650 SF 1320 straddles/sold 650 F 1400 straddles @ 24.25 credit and sold 286 SF futures @ 1318

RCG bought 800 SX 1320/1360 call spreads @ 14.75

Jefferies sold 250 SF 1320 puts @ 52.75-53.25

Futures International bought 500 SX 1390C/1250P combos @ 1/4-1/8 credit and sold 200 SX futures @ 1315

Bunge bought 800 SX 1200/1150 put spreads @ 2.5

GFI bought 250 SF 1340 straddles/Sold 250 SF 1380 straddles @ 12.25-12.50 credit and sold 55 SF futures @ 1318

Bunge bought 250 SX 1300 puts @ 25.25-25.75

Bunge bought 200 SF 1320 calls @ 52-52.5

Mizuho bought 300 SX 1280 puts/sold 600 SX 1240 puts @ ¼

ADM bought 200 SZ 1280/1180 put spreads vs. SZ 1400 calls @ 5

ABN bought 400 SX 1160 calls 158.5-160

New Edge sold 1000 SZ 1310/1350 call spreads 17

 

Jon Karmin and Jeff Pogonitz Brokerage

 

Thank you,

 

Kate Rosenberg