Bean Option Comment

“Beans diverged from corn and wheat significantly today.  This is about money flow pure and simple.  The funds will have their way for now but I anticipate some sizeable liquidation shortly.  Vol was lower which is relevant because we closed on contract highs and there is no fear.  I believe this is a sign we are near the top…but the funds will have the last word.  SK vol 18.5 down 4, SM vol 21.75 down .75, SN vol 21.5 down 1, SX vol 20.25 down .25.”

 

Straddles

 

SK 1520 36-38

SM 1500 83-85

SN 1500 1101-111.5

SX 1240 144-145.5

 

ABN sold 1000SN 1400 puts 18.25-18.5

Marex bot 1500 SX 1200/1160 put spreads 16.25

Fimat sold 500 SX 122/1320 call spreads 39

GFI bot 400 SN 1460/1500 call spreads 18.5-19

FI bot 1000SN 1400 puts 18.5 bot 220 SN 1502

Rosenthal sold 500 SN/SX CSO 300 calls 27-28

O’Brien bot 600 SK 1480 puts 6.75

Tenco bot 500 SX 1000/1060/1100/1160 condors 10.5

FI bot 500 SX 1200/1160 put spreads 16.125

Rosenthal sold 500 SDN 1200 puts 20

 

Data source: Jon Karmin (JSK) and Jeff Pogonitz (POG) – Bean option brokers