Bean Option Recap From Jon Karmin

Beans continued the march south as lower appears to be the path of least resistance. We are close to settling SF with a very important 9 handle which could be a signal to the longs that they may be on the wrong side of this market.   I have significant support at SF 995 and if we settle below that all bets are off.  I don’t feel the same vibe in the market I’ve felt the past 6 weeks on the rocket ship north.  I sense the longs are very nervous as we are 80 cents off our highs in a matter of just a few sessions.  SZ vol 29 up 1 SF vol 23 unchanged SH vol 22.25 unchanged SX15 vol 19.25 unchanged

 

Straddles

 

SZ1000 21-22.5

SF1000 57-58.5

SH 1020 90-92

SX15 1000 146-149

 

Players

 

ABN Sold 500 Dec 1040 calls 2.625

ADM Bot 250 May 980/880 Put spds 25.5 db

JP Morgan Sold 400 March 1140 Calls 9

ABN Sold 300 Dec 1000 Calls 19.5/ Bot 216 Jan futures 1013

ABN Sold 500 Jan 920 Puts 5.25/ Sold 60 Jan futures 1007

Rand Bot 2000 Jan 920 Puts 5.25/ Bot 240 Jan futures 1007

ICAP Sold 450 Jul 1000/900 Put spds 32.5-33 credit

ABN Bot 300 March 980 Puts / Sold 450 March 920 Puts 10.75 db

Rosenthal Bot 1000 March 1000 Puts/ Sold 1000 Jul 900 Puts 18.5 db

EDF Bot 200 May 980/880 Put spds 26 db

Rosenthal Sold 200 Dec 980 Puts 2.625

Rand Bot 2000 Jan 900 Puts 3.5/ Bot 160 Jan futures 1007

Rosenthal Sold 400 Jan 950 Puts 10.5

Rosenthal Bot 800 March 1000/960 Put spds 15.25 db

Macquarie Sold 250 Dec 1000/960 Put spds 6.5 credit

Rosenthal Bot 200 SDFF 1000 Straddles 44

Bunge Bot 500 N/X CSO 60 Calls 17

Jefferies Sold 500 Jan 940 Puts/ Sold 500 Jan 1060 Calls 17 credit/ Bot 35 Jan futures 1005

 

 

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

 

Data source: Jon Karmin and Jeff Pogonitz bean option brokers