Bean Option Comment

One way train for beans and meal. This has been quite a ride and there is no sign of it letting up.  That is until it does with all rallies.  I’m seeing people get bullish on the top which is never a good sign but for the time being we will remain at these lofty levels.  Beans will be like a hot potato when this turns and no one will want to be holding it on the way down.  Vol traded higher.  SJ vol 17.625 up 1.125, SK 16.75 up .75, SN 16.75 up .375, SX 16.25 up .125.

 

Straddles

 

SJ 1380 50-51.5

SK 1380 75-76

SN 1380 103-105

SX 1160 120-123

 

ADM Bot 300 April 1320 Calls 62

Rand Bot 2500 May 1400 Calls 26.5/ Sold 1050 May futures 1376

ADM Bot 200 May 1360/1300 Put spds 31.5 db

ABN Bot 1000 Nov 1020 puts 14.625-14.75

Fimat Sold 500 April 1340 Puts/ Sold 500 April 1420 Calls 20.25-20.375/ Sold 30 May futures 1372

Bunge Sold 250 SDFK 1150 Puts 22.5

Macquarie Sold 300 May 1360/1400 Call spds 18.125/ Bot 60 May futures 1372

Bache Bot 300 May 1320 Puts 13.875-15

Macquarie Sold 200 Jul 1340/1400 Call spds 26.25 credit/ Bot 40 Jul futures 1357

ICAP Sold 200 May 1370 Straddles 73.75

ADM Sold 1000 SDFN 1140 Puts 28-30

Bache Sold 200 May 1420 Calls 20.25-20.375

ADM Bot 250 May 1360/1400 Call spds 19.125-19.75 db

Tenco Bot 600 April 1340/1390 Call spds 31-31.25 db

ADM Sold 300 May 1400 Calls 31.25-32

Fimat bot 2200 Sep 1060/1040 Put spds 2.125 credit

Merrick Sold 200 April 1330 Calls/ Bot 400 May 1410 Calls 8 credit

ADM Bot 200 N/X CSO 220 Calls/ Sold 200 150 Puts 10-11 db

ADM Bot 300 April 1350 Puts 11

Tenco Sold 300 May 1300 Puts 8.875-9

 

Jon Karmin and Jeff Pogonitz