Bean Option Recap From Jon Karmin

From yesterday…

 

More unwinding of bean/corn spreads.  Funds again sold some of their length in corn against short beans.  That might be it for the time being as they seem to have significantly lightened the trade.  Bean shorts are getting a little frustrated and we may not get the break many are looking for until the weak ones are out.  Options certainly are the way to play this market and weather the gyrations.  Bean vol caught a bid as early fear of the downside found put buying.  However, late in the session  it was met with resistance and came off its highs.  I see a further test of the recent lows in vol as things settle down.  SG vol 22 up 1, SH vol 22 up .75, SK vol 21.75 up .5, SN vol 21.75 up .25, SX vol 20 unch.

 

Straddles

SG 1000 28-29.5

SH  1000 56.5-58

SK 1020 91-93

SX  980 136-136

 

EDF Bot 500 Mch 900 Puts 2.75-3

Obrien Bot 200 Feb 970 Puts 4.25-4.75

ADM Bot 200 Mch 980/940 Put spds 11 db

ABN Sold 800 Mch 1000/960 Put spds 15.125 credit/ Sold 164 Mch futures 1000

Jefferies Bot 300 Mch 960 Puts/ Sold 300 Mch 1040 Calls 1 credit/ Bot `160 Mch futures 1003

ABN Bot 200 Mch 960 puts 12.625/ Bot 52 Mch futures 1000

Jefferies Bot 500 May 1000/900 Put spds 29.5 db

Obrien Sold 500 Mch 1000 Puts/ Bot 1000 Mch 950 Puts 6.875-7.25 credit

JP Morgan Bot 700 May 960 Puts/ Sold 1050 May 1060 Calls 9.75-10 credit/ Bot 560 May futures 1007

Macquarie Bot 500 Mch 950 Puts 9.5-10

Obrien Bot 600 Nov 940 Puts/ Sold 1200 Nov 860 Puts 4.5-5.125 db

FI Bot 2000 Mch 960/920 Put spds 7.125 db

Obrien bot 200 Mch 1050 Straddles 67.25-67.5/ Bot 88 Mch futures 1005

FI Bot 800 Mch 990/950 Put spds 12-12.25 db

Macquarie Bot 800 Mch 950 puts 10.25/ Bot 168 Mch futures `002

TJM Bot 2000 May 880 Puts 8.25

ABN Bot 250 Mch 1000 Puts/ Sold 500 Mch 960 Puts/ Bot 250 Mch 920 Puts 7.5 db

Rosenthal Bot 1000 Mch 960/920 Put spds 8.75 db/ Bot 150 Mch futures 996

Rosenthal Bot 300 Feb 1010 Calls 10

Rosenthal Bot 1000 May 900 Puts 11-12

DRAX Sold 300 Feb 1000 Puts 15.5

Jefferies Sold 200 Mch 1000 Puts 29.25

Rosenthal Sold 200 Feb 1040 Calls 3

Jefferies Bot 250 Mch 950 Puts 9.875/ Bot 47 Mch futures 1004

DRAX Sold 500 Mch 1000 Puts 37.375-37.625/ Sold 254 Mch futures 1001.5

Obrien Bot 200 Jul 1100 Calls / Sold 200 Nov 1100 Calls 2.75 credit

ABN Bot 200 Jul 900 Puts/ Sold 800 Jul 800 Puts .5-.625 credit

ADM Sold 500 Mch 1030 Calls 15.375-15.5

ABN Bot 250 Mch 940 Puts 8.75-9

ABN Bot 200 Mch 960 Puts 13.75

ADM Sold 100 Feb 950 Puts 1.75-2.625

Macquarie Bot 500 Mch 1000 Puts 28.5

Obrien Bot 300 May 960 Puts/ Sold 600 May 900 Puts 3.5 db

Macquarie Sold 300 Mch 1040 Calls 12.875/ Bot 90 Mch futures 1002

Jefferies Sold 500 Mch 1050 Calls 11

Rand Sold 500 Mch 1000 Puts 23-25

Rosenthal Sold 300 Jul 980 Puts/ Bot 300 Jul 1140 Calls 20.5-22 credit

 

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

 

Data source: Jon Karmin and Jeff Pogonitz bean option brokers