Bean option Recap from Jon Karmin

Beans made another contract low before short covering surfaced and sent us moderately higher for the day.  The $9 level in SX is an emotional support and it will be difficult to penetrate it.  We had carry over selling early from the late fund selling late yesterday when they dressed up their short position at the end of the month. However, there was little left to sell on this first day of the month to perpetuate the break.  I would not be surprised if we traded back and forth in a range until the very important USDA crop production and supply/demand numbers come out next week.  Vol may ease a bit from its recent lofty levels if we trade sideways but I don’t anticipate too much erosion until we get the number behind us.  SX vol 22 down 1, SZ vol 21 down .5, SF vol 19.5 down .5 SH vol 19.5 unch

 

Straddles

SX 920 40.5-41.25

SZ 920 58.75-59.75

SF 920 70.75-71.75

SH 940 89-91

 

ABN Sold 800 Nov 850/900 Call spds 36.5-38 credit

ICAP Sold 800 Nov 910/980 Call spds 18.5-19 credit

ADM Sold 350 May 1080/900 Put spds 117 credit

Obrien Sold 1400 Nov 910 Calls/ Bot 1400 Jan 960 Calls 3-3.5 credit

Obrien Sold 450 Jan 900 Puts/ Sold 450 Jan 940 Calls 52.75-53 credit

Obrien Sold 600 Jan 900 Puts/ Bot 1200 Jan 840 Puts 3.75 credit

TJM Sold 1500 Nov 900 Puts 19

ABN Bot 300 Nov 930 Calls 11.25

Obrien Bot 250 Nov 930 Calls 12

ADM Bot 500 Mch 840 Puts/ Sold 500 May 1040 Calls 2.375 db/ Bot 225 Nov futures 907

ABN Sold 300 Nov 900 Puts 17.25

Obrien Sold 2700 Nov 910 Calls/ Bot 2700 Jan 940 Calls 3.625-4 db

Rosenthal Sold 200 Nov 900 Puts/ Bot 200 Dec 870 Puts 4 credit

Rand Sold 250 Dec 960 Puts 54.5-55

ADM Sold 500 Mch 1100 Puts 178.625/ Sold 500 Mch futures 925

ADM Sold 500 May 1100 Puts 174.375/ Sold 500 May futures 933

Rosenthal Bot 400 WK2 920 calls 12.75

ADM Sold 200 Nov15 1060 Puts 144.5/ Sold 200 Nov15 futures 938

ADM Sold 500 Nov 1120 Puts/ Bot 500 Nov 950 Straddles 155.5-156.5 credit

ADM Bot 250 Dec 990 Calls 6.5-6.75

EDF Sold 700 Nov 920 Calls 19.5/ Bot 350 Nov futures 918

TJM Bot 750 Nov 930 Calls 14-14.5

 

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

 

Data source: Jon Karmin and Jeff Pogonitz bean option brokers