Bean Option Recap From Jon Karmin

Consolidation in beans and (no surprise) vol got hammered.  10 days left in October options and the ATM straddle is barely over 20 cents.  Other long option holders also got nervous and there was fairly widespread selling.  I’m somewhat ambivalent on flat price direction for the moment.  We can get the occasional short covering bounce which should not be more than 20 cents or an eventual flush to the downside but not sure when.  Every break attracts put buyers but not enough to keep up this vol for now.  SV vol 17.5 down 1.25, SX vol 18 down 1, SF vol 17.75 down .5, SH vol 17.75 down .75.

 

Straddles

SV 980 23-24

SX 980 45.5-46.5

SF 9890 73-74

SH 1000 92-94

 

Jefferies Bot 200 Jan 980/920 Put spds 19 db

Jefferies Sold 200 Jan 1080 Calls 8

Rand Bot 1000 Nov 940 Puts/ Sold 1000 Nov 1020 Calls even-.125 credit/ Bot 480 Nov futures 982

JP Morgan Bot 2000 Nov 1040 Calls 5.125-5.25/ Sold 340 Nov futures 982

ADM Sold 1500 Nov 960 Puts 13.75-14.125/ Sold 51o Nov futures 982

ABN Bot 1500 Nov 1060 Calls 3.125/ Sold 165 Nov futures 983

EDF Bot 1000 Nov 1006 Calls 5.25/ Sold 110 Nov futures 984

ADM Sold 500 Jan 900 Puts 8.375-8.75

Obrien Sold 700 Jan 980 Puts/ Bot 1400 Jan 920 Puts 6.5 credit

Macquarie Bot 500 Nov 1000 Calls 16.375/ Sold 201 Nov futures 983

DRAX Bot 1000 Nov 950 Puts 10.625-11.25

Obrien Sold 900 SDFH 980/1020 call spds 18.75 credit

ADM Bot 1000 Nov 950 Puts 11.25-11.75

DRAX Sold 600 Jan 980 Puts 30.75/ Sold 240 Jan futures 992

DRAX Sold 600 Jan 980 Puts 31.5/ Sold 264 Jan futures 989

ADM Sold 200 Jan 960 Straddles 76

FI Bot 400 Jan 1080 7.5/ Sold 68 Nov futures 978

Obrien Sold 600 Jan 980 Puts/ Bot 1200 Jan 900 Puts 14 credit

DRAX Bot 200 Oct 950 Puts/ Sold 200 Oct 1000 Calls .875 credit

DRAX Bot 200 Oct 950 Puts/ Sold 200 Oct1010 Calls .625 db

Jefferies Bot 200 Jul 100 Puts/ Sold 300 Jul 920 Puts 24 db

DRAX Bot 1500 Jan 960/900 Put spds/ Sold 1500 Nov 950/900 Put spds 6.75 db

JP Morgan Bot 750 OCT 950 Puts 2.25/ Bot 105 Nov futures 981.5

DRAX Sold 200 Nov 1020 Puts 45.875-46.25

Obrien Bot 500 Nov 950 Puts 10.625/ Bot 140 Nov futures 982

ICAP Bot 500 Jan 980 Puts 30.75/ Bot 200 Jan futures 991

Macquarie Bot 500 Nov 960 Puts 13.875/ Bot 160 Nov futures 981

ADM Sold 200 Jan 940 Straddles 83.5

Mizuho Sold 500 May 1100 calls/ Bot 1500 May 1200 Calls 2.5 credit

 

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

 

Data source: Jon Karmin and Jeff Pogonitz bean option brokers