Bean Option Recap From Jon Karmin

Very quiet day on the floor.  A short squeeze is in the works for SN and CN.  I have not seen any panic but do expect both to be very sensitive to order flow.  There has already been significant unwinding in SN options and SN CSO open interest. After we expire these on Friday I expect traders to be looking mostly at new crop which in my opinion is overpriced.  Vol was steady.  SN vol 20 unch., SQ vol 23.5 soft, SX vol 23.25 up .25.


SN 1510 27-29

SQ 1440 87-89

SX 1280 141-143

Bunge bot 450 SDFN 1270 puts 7

Obrien bot 200 Nov 1280/1200 put spds 22.75 db

JP Morgan bot 1000 Nov 1100 puts 13.5-14.25

EDF Mann bot 800 Nov 1220p-1400c combos 13-13.25

Rosenthal sold 300 SDFN 1260 calls at 25

Jon Karmin and Jeff Pogonitz Brokerage

Thank you,

Kate Rosenberg