Bean Option Comment

From yesterday afternoon.

 

Grains traded firm during the overnight session but quickly broke down to unchanged levels and traded both sides thereafter.  The bulls are talking up cold and wet weather and planting delays but anyone betting against the US farmer should have their head examined.  This crop will get in.  Last year we experienced the 100 year rains and the crop still got in.  If we continue to rally and can hold those levels it will be from other factors.  Planting numbers this afternoon will give us an indication of sentiment for the next few days.  Bean vol eased after Friday’s pop,  SM vol 20.5 down .375, SN vol 20.75 down .125, SQ vol 21.75 soft, SX vol 20.5 down .5.

 

Straddles

 

SM 1500 64-65

SN 1500 94.5-95.5

SQ 1420 122-124

SX 1240 141-143

 

ADM Bot 350 June 1480/1440 Put spds 11.75-13.5 db

Rosenthal Bot 1000 Nov 1100 Puts 21.25-22

ABN Bot 1000 Nov 1140/1040 Puts spds/ Sold 500 Nov 1400 calls 14.75-15 db

Obrien Bot 200 WK1 1530 Calls 5

ADM Bot 500 Jul 1500/1600 Call spds 32.25-32.75 db

ADM Sold 1000 June 1500 Calls 28-31.75

Obrien Sold 200 WK1  1470 Puts 5

Macquarie Sold 400 Jul 1400 Puts/ Sold 400 Jul 1600 Calls 28 credit/ Bot 8 Jul futures 1496

Macquarie Sold 650 Nov 1120 calls/ Sold 650 Nov 1280 Puts 237.5 credit

Macquarie Sold 200 Aug 1320 Puts/ Sold 200 Aug 1520 calls 49 Credit/ Bot 20 Aug futures 1427

GFI Sold 1000 June 1460 Calls/ Bot 2000 Jul 1540 Calls 5.625-6.125 db/ Sold 120 Jul futures 1494

Rosenthal Bot 200 WK1  1490 Straddles 28

ADM Sold 300 Jul 1470 Puts 26.75-27

Rosenthal Bot 300 Jul 1540 Calls 31-31.5

Fimat Sold 400 June 1360 Calls/ Bot 400 June 1360 Puts 139-141 credit

Fimat Sold 250 Jul 1380 Puts/ Sold 250 Jul 1560 Calls 34 credit/ Bot 45 Jul futures 1501

 

Jon Karmin and Jeff Pogonitz Brokerage

 

Data source: Jon Karmin and Jeff Pogonitz , bean option brokers