Bean Option Recap

Beans again rallied off their lows hitting stops and accelerating higher before the last of the weak shorts had succumb.  We broke the rest of the session and settled a little soft.  Vol was very weak early before firming up on some late put buying.  This rally has not made me a bull and I actually believe it has provided a decent opportunity to get short particularly buying puts at these cheap vol levels.  SG vol 15.25 down.375, SH 15 down .25, SK vol 16 down .125, SN 16.5 soft, SX 16 soft.

 

Straddles

SG 1300 27-28.5

SH 1300 55-51.5

SK 1280 85.5-87

SN 1280 109-110

SX 1120 123.5-126

 

Tenco Sold 200 Feb 1320 Calls 5-5.25

Obrien Sold 250 Mch 1240 Puts 7

ABN Sold 300 Mch 1260 Puts 11.5

Tenco Bot 300 Mch 1300 Calls 24

GFI Sold 400 Mch 1260 Puts 11.625/ Sold 112 Mch futures 1295

GFI Bot 250 Nov 1160 Straddles/ Sold 250 Jul 1300 Starddles 19 db/ Sold 50 Jul/Nov futures spds 148

Tenco Bot 250 Nov 1160 Straddles / Sold 250 Jul 1300 Straddles 18.75 db/ Sold 50 Jul /Nov futures spds 148

Bunge Sold 400 Nov 1120 Starddles 124-124.5

ADM Bot 300 SDFH 1120 Puts 24.5-25.5

EDF Sold 500 Nov 1160 Puts 38.5-39

Fimat Bot 400 Mch 1080 Puts .25

JP Morgan Sold 250 Mch 1250 Puts/ Sold 250 Mch 1340 Calls 17.5 credit

JP Morgan Bot 250 May 1280 Straddles 85.5-86

Tenco Bot 500 Mch 1340 Calls 11/ Sold 150 Mch futures 1302

Tenco Bot 500 Mch 1340 Calls 13.875/ Sold 170 Mch futures 1311

Macquarie Bot May 1280/1180 Put spds 32.25 db

Macquarie Bot 250 May 1400 calls 10.375/ Sold 45 May futures 1292

Tenco Sold 500 Jul 1260 Puts 48

FI Sold 500 Mch 1310/1280 Put spds 11.625credit/ Sold 100 Mch futures 1312

FI Sold 1000 Mch 1300 Calls 29-30.5

FI Bot 2000 Mch 1280 Puts 13.75-14.5

Rosenthal Sold 200 N/X CSO 130 Puts 20-22

Macquarie Bot 200 May 1260 Puts 31/ Bot 76 May futures 1287

 

Jon Karmin and Jeff Pogonitz Brokerage