Bean option recap from Jon Karmin

As noted yesterday there is nothing standing in the way of July beans until 1483.3.  We nearly made it there today.  Tomorrow should be interesting.  I believe there are stops above that level which could bring us to the $15 level.  There is no question things are tight in nearby beans yet I believe when we capitulate it willbe a violent swing downward.  Nevertheless, don’t stand in front of a freight train.  New crop is recognizing ample suplies.

Fimat Sold 2000 Mch 1000/1100 Call spds 82-82.5 credit

Fimat Bot 1000 Sep 1100/1200 Call spds 85 db

EDF Bot 1400 jul 1500 calls 15.75-17.75

FI Sold 1000 Nov 1140 Puts 29-29.5

ABN Bot 850 jul 1500 calls 18-20.25

FI Sold 200 Nov 1200 straddles 123.5

GFI Bot 1200 Jul 1400/1360 Put spds 4.5-5.75 db

Mizuho Sold 600 nov 1320 Calls/ Bot 600 jul 1470 Calls 1 credit

Mizuho Sold 600 Nov 1300 Calls / bot 600 jul 1460 Puts 1 credit

FI Bot 800 Aug 1400/1500 call spds 26.5-26.75 db/ Sold 208 Aug futures 1391

Bunge sold 250 N/X CSO 275 calls 11

Bunge Bot 1000 Jul 1300 puts 1.25

ADM Bot 400 aug 1360/1320 put spds 14.625 db

Bunge Bot 400 Jul 1450/1500 Call spds 21.25 db/ sold 100 jul futures 1463.5

GFI Sold 400 jul 1500  Calls 16-16.5/ Bot 128 Jul futures 1459

Fimat bot 1000 Jul 1500 calls 19

Vision bot 1500 jul 1550/1600 call spds 5.625-6 db

Straddles> June 1470 22.5-25/ Jul 1470  64-66/ Nov 1220  120-123

VOLS>  June 18.75 up .25/ jul 19 up 1/ nov 19 down .625

Jon Karmin and Jeff Pogonitz Brokerage.