Bean options recap

SK beans led the way completely disconnecting from the rest of the board.  The SK 1430 straddle traded down to 18 cents with 3.5 days to expiration.  This is about as mispriced as any straddle I’ve seen in a long time.  In fact,  by the close it already had 12 cents  of intrinsic value.  SK beans could be anywhere by Friday.  I think we are due for a big break in SK.  SK vol 16.5 down .5, SM vol 19 down .25, SN vol 19.75 down .25, SX 21 steady.

Straddles

SK 1420 18-19

SM 1360 60-62

SN 1360 85-87

SX 1200 143-145

ADM Bot 200 N/X 250 Calls (CSO) 7

Cunningham Bot 200 Mch 1060 Puts/ Sold 400 Mch 960 Puts 7 db

Fimat Bot 1000 Mch 960 Puts 10.5-11

Tenco bot 400 June 1400 calls 18

ADM Bot 400 Nov 1200 Puts 74-75

ADM Bot 400 Jul 1360 Calls 44.5

Bunge Bot 1000 Nov 1140/1040 Put spds/ Sold 1000 Nov 1240 Calls 22.5-24 credit

Tenco Sold 200 May 1420 Straddles 19-19.5

Vision Bot 2000 Nov 1000 Puts 11.75-13.25

Tenco sold 300 Nov 1300 calls 35-36.5

Tenco Sold 400 nov 1100 Puts 32-33.75

Obrien Bot 200 Sep 1340/1300 Put spds 30 db

Macquarie Sold 350 Jul 1360/1280 put spds 30 credit/ Sold 91 Jul futures 1357

JP Morgan Sold 250 Jul 1440 Calls 16/ Bot 60 Jul futures 1355

JP Morgan Bot 500 Jul 1400/1500 call spds 19.75 db

GFI Bot 450 May 1400 Straddles 29.25-29.5/ Sold 296 May futures 1424

– John Karmin , Jeff Pogonitz