Bean Option Recap From Jon Karmin

Nice little bounce in corn and beans after SF traded sub $10 overnight.  We were due for a correction after beans broke 60 cents from their highs last week.  Volatility in the market should be expected. for the time being. However,  I think we will continue to consolidate some before Monday’s report at which time we will get a little direction from the USDA.  Vol took it on the chin as the market turned short term positive.  SZ vol 27.75 down 1.5, SF vol 24 down 1.75,  SH vol 22.5 down 1,   SX15  vol 19 down .5

 

Straddles

 

SF 1020 46.25-47.25

SZ 1020 72.5-73.5

SH 1020 99-100

SX15 1000 147-150

 

 

DRAX Bot 1000 Dec 1100 Calls 3.25

ABN Sold 300 March 900/800 Put spds 10.5 credit

ADM Bot 200 Dec 1040 Calls 11

EDF Sold 600 Jan  960 Puts 20-21

Obrien Bot 550 Dec 980/920 Put spds 12.375-12.5 db

Jefferies Sold 300 March 920 Puts/ Sold 300 March 1100 Calls 36.5 credit

JP Morgan Sold 250 March 1160 Calls 8.25

Macquarie Bot 500 Dec 1020/1050 Calls spds 8.75 db/ Sold 80 Jan futures 1000

Rosenthal Bot 500 Jan 980/900 Put spds / Sold 500 Jan 1060 Calls 6.375 db/Bot 265 Jan futures 999

JP Morgan Bot 820 Dec 1090 Calls 2.375/ Sold 64 Jan futures 999.5

ABN Bot 1000 Jan  970 Puts/ Sold 1000 Jan 1040 Calls 4.75 db/ Bot 700 Jan futures 1000

ABN Bot 250 Jan 1050 Puts 67

EDF Bot 200 Jan 940/920 Put spds 4.5 db

ADM Sold 200 May 1060 Calls 37.75-38

ABN Bot 200 Jan 980/920 Put spds / Sold 200 Jan 1050 Calls 2.5-2.75 credit

Obrien Sold 200 Jan 1040 calls 23.5

Jefferies Sold 250 Jan 980/960 Put spds 4.25-4.375 credit

DRAX Sold 200 Jan 1020 Puts 37.5

ADM Sold 200 Dec 1040 Calls 13-14

FC Stone Sold 500 Jul 1320 Calls/ Bot 500 may 1260 Calls 1.25 credit

Jefferies Sold 800 Jan 940 Puts/ Sold 800 Jan  1060 Calls 29.5-30.5 credit/ Bot 96 Jan futures 1017

 

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

 

Data source: Jon Karmin and Jeff Pogonitz bean option brokers