Bean Option Recap From Jon Karmin

SX option vol continued its firm tone at the beginning of the session but beans settled into a trading range and for the first time in quite a while we saw good selling of just out of the money puts.  The SX 1280 straddle started the day 137 bid but quickly fell to 133 before recovering a bit.  I am beginning to see selling coming from customers whom were active put sellers in the past but have not participated in the market for many months.  Any consistent selling in bean options could send vol down a couple percent without much effort.  I am still negative new crop but continued put selling will lend some support to futures.  SQ vol 23 down .5, SU 23.5 down .5, SX vol 22.75 down .5

Straddles

SQ 1420 75-77

SU 1320 99-102

SX 1280 133-135

Tenco bot 200 wk4 1450 calls 10.5-12

Tenco sold 400 Nov 1240 puts 48

Tenco bot total 400 Nov 1000 puts 3.875

ADM sold 300 Sept 1350 puts/ bot 300 March 1200 puts 17-18 credit

GFI bot 500 Nov 1400/1480 call spds 12.75 db

GFI bot  600 Nov 1400/1460 call spds 10-10.25 db

FC Stone bot 350 May 1280 straddles 176

FI sold 200 May 1280 straddles 176

FI Bot 200 Nov 1420 calls 23.25

Obrien bot 200 SDFU 1400 calls 13

Rosenthal sold 2000 Nov 1200 puts/ bot 4000 Nov 1000 puts 28 credit

ABN sold 400 Nov 1260 puts 59-60

EDF sold 800 Nov 1240 puts 51

Bunge sold 200 SDFU 1280 calls 47

Jon Karmin and Jeff Pogonitz

Thank you,

Kate Rosenberg