Bean Option Recap

Fairly active trade in bean options on the screen today but after all was said and done we settled marginally different from Friday in both flat price futures and option vol.  After the precipitous drop in vol the past couple of weeks we have seen the occasional bottom picker but it appears with every uptick in vol the sellers resurface.  Much of today’s future’s rally was a result of intermarket corn/bean spreading and not anything seriously fundamental. Additionally, SU has attracted some attention and it may be lending support to SX in the short term but eventually beans should fail based on what we know now about the new crop.  SU vol 24.75 up 2.75,  SV vol 19.25 down .25  SX 18.5 down .25 vol  SF  vol 17.875 down .125,  SH vol 17.378 down .125.

 

Straddles

 

SU 1110 24-26

SV 1050 53-55

SX 1050 67-68

SF 1060 88-90

SH 1060 106-108

 

Rosenthal Sold 200 SDFU 1050 Straddles 25

ADM Bot 900 Nov 1050 Calls 36-37.5/ Sold 900 Nov futures 1053

Obrien Bot 800 Nov 1040 Puts 28.625/ Bot 320 Nov futures 1052.25

Obrien Bot 200 Sep 1120 Calls 11

Macquarie Bot 500 U/X CSO 45 Puts 4-4.5

ABN Sold 400 OCT 1020 Puts/ Sold 400 OCT 1090 Calls 26.5-26.75 credit

EDF Sold 400 Nov 1000 Puts 12.75-15

ADM Bot 200 Oct 1170 calls 1.625

Macquarie Bot 700 Nov 1040 Puts 28.625/ Bot 285 Nov futures 1051.5

Obrien Sold 600 Nov 960 Puts 5.375/ Sold 72 Nov futures 1057

 

Jon Karmin (JSK)/Jeff Pogonitz (POG) Brokerage

 

Data source: Jon Karmin and Jeff Pogonitz bean option brokers