Bean Option Recap

Grains and cereals were down sharply today on near perfect growing weather.  We are getting some nice warm degree days with occasional showers.  Planting should show near complete in corn and beans right on schedule.  There has been some firmness in back month vol on significant put buying and a general feel this market can really move.  I believe we will see pops in vol on initial moves but will see good selling on any hesitation in the market.  Therefore,  I don’t see any sustained dramatic move in vol.  Any move should be orderly.  SN vol 19 up .5, SQ vol 21.75 up .50, SU vol 21.625 up .25, SX vol 21.375 up .125.

 

Straddles

 

SN 1500 60-61

SQ 1420 110-111

SU 1300 112-115

SX 1240 135-136

 

FI Bot 400 Nov 1140 Puts/ Sold 200 Nov 1160 Puts 21.25-21.5 db

Bache Sold 300 Sep 1140 Puts 8.25-8.5

ADM Bot 400 SDFN 1200 calls 56-57.5

ABN Bot 800 Jul 1400 Puts 3-4

Obrien Sold 200 WK5 1500 Puts 12

FI Sold 300 Nov 1340/1400 Call spds 12.75 credit

ADM Bot 200 WK5 1520 Calls 5

ICAP Sold 500 WK5 1490 Puts 8

Rand Bot 400 Jan 1200/1100 Put spds 31-31.75 db/ Bot 72 Jan futures 1245-1250

Obrien Sold 500 WK5 1490 Puts 10

ABN Sold 500 Nov 1400 Calls 20/ Bot 100 Nov futures 1243

ABN Bot 1200 Nov 1160 Puts 33.75-35.5

Bache Bot 200 Nov 1240 Puts 67.75

ADM Bot 200 Jul 1520 Puts 46.5-48

JP Morgan Bot 500 Jul 1500/1560 Call spds 16.75-18.25 db

Rosenthal Sold 200 SDFN 1260/1290 Call spds 8.25 credit

JP Morgan Bot 1000 Jul 1500/1460 Put spds 17.625 db/ Bot 200 Jul futures 1495

 

Jon Karmin and Jeff Pogonitz Brokerage

 

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