Bean Option Recap

Beans had an outside day trading above yesterday’s highs and below yesterday’s lows.  In case anyone was keeping track, we’ve had lower weekly closes every week since the beginning of August…that’s  a lower close than the previous week for every consecutive week since July.  At least that was until today and we only closed two cents higher than last week.  The bears haven’t taken any heat and if they remain the course I don’t believe they have a lot to worry about.  Today there was a feeble attempt early to squeeze a few shorts out but again the rally was met with very stiff resistance as traders are looking for any opportunity to sell a higher board.  I still maintain we will trade in this range until next week’s report because shorts won’t let it break too much and there are offers to sell above the market.  I like initiating SF put ratios up near the high end of today’s range but in quantities you can tolerate a little volatility.  There may be better opportunities mid next week if vol gets pumped before the report to do it cheaper.  These have worked very well this year.  Please contact me if you have any interest and I’ll explain.  SX vol 23 up .75, SZ vol 22 up .5, SF vol 20.5 up .5, SH vol 20.25 up .5.

 

Straddles

 

SX 920 41.25-42,

SZ 920 59.5-60.5

SF 920 72-73

SH 940 92-93

 

Macquarie Sold 200 Nov 910 Puts 15.5/ Sold 72 Nov futures 921

EDF Bot 250 Jan 860 Puts/ Sold 250 Nov 1000 Puts/ Sold 187 Nov futures 922.5

Tenco Bot 400 Nov 1000 Calls 1.375-1.5

Rosenthal Bot 400 Jul 940 puts 56.5-57

Obrien Sold 400 Nov 900 Puts 12

Rosenthal Bot 250 Jan 840 Puts 9.875-10

Tenco Sold 300 Nov 900 Straddles 45.25

ABN Bot 200 Jan 880 Puts/ Sold 300 jan 800 Puts 10 db

Obrien Sold 500 Jan 860 puts 12.875/ Sold 100 Jan futures 933.5

Jefferies Bot 200 Jul 940 Puts/ Sold 200 Jul 1000 Calls 16 db

Obrien Sold 600 Jan 900 Puts/ Bot 1200 Jan 840 Puts 3.5 credit

Obrien Sold 450 Jan 900 Puts/ Sold 450 Jan 940 Calls 55-55.5 credit

Rosenthal Bot 250 Nov 940 Calls 11

ABN Sold 500 Mch 900Calls 65-66

Obrien Sold 1800 Jan 900 Puts 27.75-28

TJM Bot 500 Nov 930 /980 Call spds 10.5-10.75 db

Macquarie Sold 400 Nov 900 Puts15/ Sold 152 Nov futures 914

Obrien Sold 400 Dec 920 Puts 29.5-29.75/ Sold 192 Jan  futures 921

Obrien Sold 500 Nov 860 Puts 5.75

Cunningham Bot 250 Nov15 940 Puts 71

Rosenthal Bot 950 Nov 980 Calls 2.5

ICAP Bot 400 May 980 Calls 34.5-34.75/ Sold 172 May futures 934

Obrien Sold 400 Nov 900 calls 29

ICAP Sold 250 Jan 900 Puts 28.25/ Sold 85 Jan futures 919

ICAP Sold 250 Dec 850 Puts 9.125/ Sold 35 Jan futures 921

 

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

 

Data source: Jon Karmin and Jeff Pogonitz bean option brokers