Bean Option Recap From Jon Karmin

Exceptionally quiet day before USDA releases its numbers on Monday.  I saw a little evening up but otherwise  most traders were looking to the next two days off.  It is widely accepted that we will receive bearish numbers so the question is how much is already built into the market.  Last month we broke on the number but rocketed up for the next 3 weeks.  It’s very possible beans don’t react much at all to the announcement which would be toast for vol and premium.  I believe eventually the fundamentals will dictate as the market looks at the massive carry out in beans.  SZ vol  26.5 up 1,SF vol 22.25 down .5, SH vol 21 down .5,   SX15 vol 18.5 down .37

 

Straddles

SZ 1030 22-24.5

SF 1030 67-68.5

SH 1040 92.5-94

SX15 1000 143-145

 

TJM Sold 400 Jul 1100 Calls 39.5-40.75

DRAX Bot 900 Dec 920 Puts 1.5-1.625

FI Sold 400 Jan 1020 Straddles 67-67.75

Marex Sold 450 Jan 1020 Straddles 66.5-67

Obrien Sold 450 Nov 1100 Calls/ Bot 450 Nov 900 Puts 9 credit/ Bot 261 Nov futures 1005

Obrien Sold 200 Jan 1020/970 Put spds 17.5 credit/ Sold 49 Jan futures 1023

Obrien Bot 400 Dec 1000 Puts 10.5-12.25

Rosenthal Bot 300 Dec 960/930 Put spds 2 db

Marex Sold 700 Jul 1000 Puts/ Sold 700 Jul 1100 Calls 87-87.25 credit

DRAX Sold 1000 Dec 980 Puts 7-7.125/ Sold 210 Jan futures 1025

FI Bot 1500 Jan 900 Puts 3.875-4/ Bot 120 Jan futures 1024.5-1025

Mizuho Sold 750 Jan 900 Puts 3.875-4/ Sold 60 Jan futures 1024.5-1025

ADM Bot 300 Dec 1040 calls 17.75

Jefferies Bot 200 Jan 1000/980 Put spds 5.5 db

Obrien Bot 500 Dec 1000/980 Put spds 4.125 db

JP Morgan Bot 200 Jan 950/900/850 Put flys 3 db

ABN Sold 200 Jan 900 Puts 3.5

 

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

 

Data source: Jon Karmin and Jeff Pogonitz bean option brokers