Bean Option Recap From Jon Karmin

Relatively quiet day to end the week.  We saw continued interest to the downside in new crop.  Now that the Goldman roll is over I don’t expect the same kind of volatility in SN/SX….particularly on the close when they would stick it to their customers by marking the spread so poorly.  Vol was soft in SN down 1 to 20%, SQ was unch t 23, SX 23.25 unch.

Straddles

SN 1510 33-35

SQ 144090-93

SX 1300 143-145

Merril Bot 1000 Jan 1200/1000 Put spds 32.5 db/ Bot 220 Jan futures 1299

Bunge Bot 300 Jul 1520/1540 Call spds 6 db

Obrien Sold 240 Aug 1440 Calls 39/ Bot 115 Aug futures 1428

JP Morgan Bot 300 Nov 1200 Puts 33.125/ Bot 72 Nov futures 1296

Tenco bot 200 Jul 1500 Puts 10.5

ADM Sold 200 Jul 1510 Puts 13.25-13.5

ABN Sold 200 Nov 1340 Calls/ Bot 200 Nov 1300/1220 Put spds 20 Credit

JP Morgan bought 1,000 Nov 1100 puts at 11 ¾

New Edge bought 1,500 Aug bean 1250 puts and sold 1,500 Sept bean 1100 puts at ½- ¾ debit

Jon Karmin and Jeff Pogonitz brokerage

Thank you and have a nice weekend,

Kate Rosenberg