Bean Option Recap From Jon Karmin

Beans traded moderately lower as we eased off the recent highs however buthung in there so I’m not sure we have seen the last of high prices.  Vol also was lower so the ship may have sailed on initiating any more put ratios at low cost. They were all firmer on today’s order, vol, and price action.  With already expected carry out reductions I don’t expect a significantly bullish report so I anticipate a continuation of today’s trend.  SG vol 25.75 down .5, SH vol 23.75 down .75, SK vol 22.875 down .375, SN vol 23.25 soft, SX vol 21 down .375.

 

SG 1050 45.5-47

SH 1050  68.5-69.5

SK 1060 103.75-104.25

SN 1060 131.5-133

SX 1020 151-152.5

 

ADM Sold 200 Feb 1060 puts 23-24

FI Sold 300 Nov 1000 Puts/ Bot 300 Nov 1200 Calls 36.75-38.5 credit

Jefferies Bot 300 Jul 1000 Puts/ Sold 600 Jul 920 Puts 4 db

ABN Bot 500 WK3 1040 puts 16-17

ICAP Sold 400 Mch 1060 Straddles 69-70

EDF Sold 1000 Mch 970 Puts/ Bot 1000 Mch 1150 Calls 2.25-2.375 credit/ Sold 310 Mch futures 1053

Macquarie Bot 200 Mch 1000 Puts/ Sold 300 Mch 960 Puts 9 db

FI Sold 2000 Mch 960/920 Put spds 4.25-4.375 credit

TJM Bot 350 May 920/880 Put spds 4.75 db

FI Sold 250 May 1020 Straddles 107.5-108.5

Obrien Bot 500 Mch 1110 Calls/ Sold 500 Mch 990 Puts even/ Sold 230 Mch futures 1051

Fimat Bot 250 Mch 960 puts 7.875

TJM Bot 200 Feb 1100/1110 Call spds 1.5 db

Cunningham Sold 500 Nov 1000/900 Put spds 37.5-38 credit

ABN Sold 350 May 1060 Straddles 104-104.25

ABN Bot 500 May 960 Puts 18/ Bot 100 May futures 1056

FI Bot 250 May 1000/880 Put spds 23.25 db

 

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

 

Data source: Jon Karmin and Jeff Pogonitz bean option brokers