Bean Option Report

“Markets were down across the grain floor today as there is less fear of planting delays and less concern of the Ukranian situation blowing up.  Additionally, Chinese cancelations pressured beans.  As I mentioned last week funds are insanely long and if we break much more I see them moving to a liquidation mode.  We are not far from significant support in both beans and corn and a break through those technical supports could create a wave of selling.  There is a lot of room on the downside if we get normal weather the next couple of months.  Vol bounced around a bit but was generally steady.  SK vol 20 up 2, SM vol 22.5 up .25, SN vol 22.5 up .25, SX vol 20.25 unch.

 

Straddles

 

SK 1500 27-28

SM 1480 79-81

SN 1480 106-107

SX 1220 140-141

 

ABN sold 500 SN 1400 puts 21.25

O’Brien sold 1000 SN 1400 puts 21.25 sold 250 SN 1481.5

FI bot 900 SM/SK 1500 call calendars 20-20.625

Macquarie sold 1000SN 1470/1400 put spreads 27 sold 200 N 1480

GFI sold 500 SN 1500 puts 62-63

O’Brien sold 500 SN 1400/1600 strangles 38.25

JP sold 400 SN 1400/1350 put spreads 10.875

GFI sold 2000SX 1100/1000 put spreads5

FI sold 500 SX 1260/1300 call spreads 12.75-12.625

GFI bot 1000 SM 1460/1500 call spreads 19-19.25

 

Jon Karmin and Jeff Pogonitz Brokerage

 

Data sources: Jon Karmin (JSK) and Jeff Pogonitz (POG) bean option brokers