Bean Option Recap from Jon Karmin

Bull spreading in beans and corn subsided from yesterday as we had a relatively narrow trading range.  There was some back and forth trade but vol was generally steady across the board.  The recent rally in SX has run its course and I am starting to see traders again look to the downside in new the crop.  Interest is developing in establishing new long put positions or rolling old long put positions up to higher strikes.  SN vol 21.75 unch., SQ vol 23 unch., SX vol 22 firm.

 

Straddles

SN 1520 54-56

SQ 1440 98-102

SX 1300 140-142

 

ABN Sold 200 Nov 900/840 Put spds .625 credit

Bache bot 500 Nov 1100/1000 Put spds 7.5 db

Tenco Sold 400 Jul 1450/1400 Put spds 3.375-3.5 db

GFI Bot 1000 Jul 1600/1650 Call spds 4.25-4.5 db

ABN Sold 600 Jul 1550 Calls 16-17.5

ABN Bot 600 Nov 1360 Calls 41.5-43.75

Bunge Bot 300 Aug 1350 Puts 15.75

Fimat Bot 1500 Nov 1100 Puts/ Sold 3000 Nov 1000 Puts 3.75-4 db

Rosenthal Bot 1250 Nov 1340/1440 Call spds 28 db

Obrien Bot 800 Nov 1200 Puts 31-31.75

ADM Sold 200 Aug 1350 Puts/ Sold 200 Aug 1510 Calls 41.25 credit

Bunge Bot 400 SDFN 1220 Puts 3

 

Jon Karmin and Jeff Pogonitz Brokerage

 

 

Thank you,

 

Kate Rosenberg