Bean Option Recap

This is all about meal and really nothing else.  Kudos to those who saw this coming.  There aren’t many of you.  The rest of us have been served a very nice slice of humility.  There is very definitely a SMZ issue but I’m not sure why the rest of the meal and for that matter the rest of floor has rallied so much other than it is function of tremendous shorts getting stopped out at higher and higher price levels.  I don’t know where the top is but I can’t believe this is sustainable over time as the meal pipeline is eventually replenished.  SZ vol 23.75 down 1.75, SF vol 22.5 down 1.5, SH vol 21.875 down 1.125, SX15 vol 18.875 down .125.

 

Straddles

SZ 1000 50-51

SF 1000 74-75.5

SH 1020 100-101.5

SX 15 1000 146-149

 

Wells Fargo Sold 2100 Mch 800 Puts 3.75-4.25

Wells Fargo Sold 1650 Jan 910/830 Put spds 7.75-10 credit

ABN Bot 400 Mch 940 Puts/ Sold 500 Mch 1140 Calls 24 db/

ABN Sold 2500 Jan 910 Puts/ Bot 5000 Jan 800 Puts 7.75-10.5 credit

Obrien Bot 2000 Dec 960/900 Put spds 14.75-15 db/ Bot 500 Jan futures 975.5

DRAX Sold 200 Jan 980 Calls 35.35-36

DRAX Sold 300 Jan 1000 Calls 26.75-27

Rosenthal Bot 1500 Mch 700 Puts .875

Macquarie Sold 800 Dec 970 Straddles 54-54.25

Macquarie Bot 400 Jan 940 Puts/ Sold 200 Jan 1040 Calls 24.5 db/Bot 184 Jan  futures 984

ADM Sold 200 Dec 960 Puts 16.25-26.5

DRAX Sold 1000 Jan 1000/1060 Call spds 18.75-19.25 credit

ABN Bot 400 Jan 900 Straddles 107.5-109

EDF Sold 2000 Jan 920 Puts 10.75-12.5

Marex Bot 1200 Nov15 840 Puts/ Sold 2400 Nov15 740 Puts/ Bot 1200 Nov15 640 Puts 10.75 db

Rosenthal Bot 200 Mch 1000 Calls 48

Obrien Sold 400 Jan 990 Straddles 73

Bunge Sold 1500 Jul 860 Puts 14-14.5

TJM Bot 500 Jul 1100 Calls 34.5

ADM Bot 250 Jan 960/1020 Call spds 32.25-33.5 db|

ABN Bot 500 Dec 1000 Calls/ Sold 500 Jan 1020 Calls 2-2.25 credit

Macquarie Bot 250 Jan 1000 Straddles 74.5/ Sold 60 Jan futures 1004

DRAX Sold 2500 Jan 900 Puts 6.25/ Sold 300 jan futures 1007

Jefferies Sold 600 Jan 940 Puts/ Sold 600 Jan 1060 Calls 29.5 credit/ Bot 72 jan futures 1012

 

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

 

Data source: Jon Karmin and Jeff Pogonitz bean option brokers