Bean Option Recap From Jon Karmin 2/17/15

Beans rocketed higher as we broke through resistance on a bigger than expected short from COT.  Other technical factors helped support futures and I currently only have some resistance in SH at 1012 ½ and then not until 1020.  I don’t see the market going too much higher than that but we certainly could flush some more shorts out.  At a very least this rally should provide an opportunity to find trades to short the market for planting intentions next month.  Otherwise I think we chop around the next month.

 

Bean vols:

April vol 16 7/8 up 3/8

May vol 18 7/8 up 7/8

July vol 19 ¾ up a ½

Nov vol 19 unchanged

 

Bean straddles:

March 1000 str 18-20

April 1000 str 44-46

May 1000 str 64-66

July 1020 str 95-96 ½

Nov 980 str 122-123 ½

 

Bean players:

Rosenthal Bot 500 March 1010 Calls 3.75

DRAX Sold 2000 March 1000 Calls 8/ Bot 960 March futures 999

Rand Sold 250 May 980/860 Put spds 20.25 credit

DRAX Bot 1000 March 950 Puts .375-.5

Jefferies Bot 2000 May 1080 Calls 7-9.25

New Edge Bot 500 May 970/940 Put spds 8.25 db/ Bot 60 May futures 1001.5

DRAX Bot 500 Jul 940 Puts 21.5

Jefferies Sold 2000 March 960 Puts .375-.75

JP Morgan Bot 1300 May 900 Puts/ Bot 1300 May 1020 Calls 27.125-27.25 db/ Sold 412 May futures 1000

ABN Bot 500 May 980 Puts/ Sold 500 May 930 Puts/ Sold 500 Mch 980 Puts 11.25-11.375 db

Macquarie Sold 500 May 950 puts 12.5

Jefferies Bot 250 May 1040 Calls 17-17.5

ABN Bot 1000 May 1060/1100 Call spds 7.375 db

Macquarie Bot 1000 March 1020 Calls 4-4.125/ Sold 260 March futures 1006

Rand Sold 500 May 980/940 Put spds 10.25 credit

Macquarie Bot 1000 May 900 Puts 4.125

Obrien Bot 500 March 1010 Calls 7

FI Bot 250 March 980 Puts 1.875

FI Bot 300 March 990 Puts 3.5

Marex Bot 1000 April 980 Puts/ Sold 1000 March 980 Puts 8.75 db/ Bot 150 March futures 1007

Obrien Sold 400 Jul 1100 calls 18.25/ Bot 104 Jul futures 1016

TJM Bot 250 March 990/980 Put spds 1.75 db

Rosenthal Sold 500 March 1030 Calls 2.25-2.5

 

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

 

Data source: Jon Karmin and Jeff Pogonitz bean option brokers