Bean Option Recap From Jon Karmin

Quiet day for beans.  We traded lower overnight only to rally some mostly as we followed corn as a 10,000 lot corn buy stop was triggered.  They algos had a field day with the brief pop in both markets inflicting maximum pain and then both markets sold off to unchanged.  We are consolidating below support and I see us drifting lower but nothing really significant.  I don’t see a lot of opportunity in the market right now as vol has come down to a reasonable level which I am only taking in shorts but not getting long any premium because we could be establishing a new trading range.  SH vol 19 down .25, SJ vol 18.625 down .125, SK vol 19.25 down .25, SN vol 19.75 down .25, SX vol 19 down .25.

 

Straddles

SH 960 32.5-33.5

SJ 970 54.5-56

SK 970 70-71.5

SN 980 97-98.5

SX 940 121.5-123

 

Players

JP Morgan Sold 300 March 980 Calls 10-10.5

Obrien Sold 500 May 1000 Calls/ Bot 500 May 900 Puts 10.75 credit/ Bot 284 May futures 969

Macquarie Bot 300 March 950 Puts 11.5/ Bot 102 March futures 964

Rand Sold 250 Jul 860 Puts 11.75

Rosenthal bot 250 May 900 Puts 11.75/ Bot 50 May futures 968

Obrien Sold 300 Jul 940 Puts/ Sold 300 Jul 1020 Calls 63.125-63.25

FI Sold 500 April 950 Calls 41.5-42.25

Tenco Sold 500 Nov 860 Puts 24

Obrien Bot 200 May 920 Puts/ Sold 300 May 880 Puts 9.5 db

FI Bot 300 May 880 Puts 7.625

FC Stone Bot 250 May 920 Puts/ Sold 375 May 880 Puts 10.25 db

Obrien Bot 250 Nov 940 Straddles 122

ABN Bot 300 May 900/850 Put spds 7.75 db

 

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

 

Data source: Jon Karmin and Jeff Pogonitz bean option brokers