Bean Option Recap From Jon Karmin

Beans rocketed higher as shorts whom were pressing the market the past couple of weeks ran out of steam and the algos took no prisoners.  We traded up to and through resistance of SH 996 before coming off late.  The cheap vol I’ve been mentioning the past few comments was a dangerous level to sell and a big move such as today did not bode well for shorts.  It is always wise to take in some shorts when it is being pressed like that.  SH vol 21 up 2, SJ vol 19.5 up .875, SK vol 20.5 up 1.25, SN vol 20.75 up 1, SX 19.5 up .5

 

Straddles

SH 990 35.5-37

SJ 1000 57.5-59

SK 1000 74.5-76

SN 1000 102.5-104.5

SX 980 127-129

 

Players

FI Bot 300 March 970 Straddles 34

Rosenthal Bot 225 March 950 Puts 7.75

FI Sold 200 July 880 Puts 13

FI Bot 200 March 990 Calls 9.75

Rand Sold 500 May 1000/980 Put spds 11 credit

Obrien Bot 1500 May 950/940 put spds 3.25-3.5 db

ICAP Bot 500 May 1000 Calls 27.25-27.5

ABN Bot 400 May 980 Straddles/ Sold 400 April 980 Straddles 16-16.25 db

FI Bot 500 May 940 Puts 15-19.125

Jefferies Bot 500 May 950 Puts/ Sold 1000 May 910 Puts .375 db/ Sold 500 May 980.75

Obrien Bot 250 May 920 Puts/ Sold 375 May 880 Puts 8.5 db

Obrien Bot 250 July 900 Puts/ Sold 500 July 840 Puts 26.75 db

ABN Sold 300 N/X CSO 40 Calls 10.5

Jefferies Sold 500 March 950 Puts 6.25/ Sold 120 March futures 980

DOWD Sold 800 Nov 800 Puts 9.875-10.125

ADM Bot 250 March 950 Puts 6

TJM Sold 700 May 1020/1050 Call spds 8.5 credit

ICAP Sold 500 March 1010 Puts 32.5/ Sold 350 March futures 985

ABN Bot 200 May 880/850 Put spds 2.75 db

Marex Bot 900 March 920 Puts/ Bot 900 March 1050 Calls 3 db

ABN Bot 400 May 900/850 Put spds 5.5 db

Marex Bot 250 March 920 Puts/ Sold 250 March 1050 Calls .375 db

ABN Bot 150 May 960 Puts/ Sold 300 May 920 Puts .25 db

Obrien Bot 2000 May 860 Puts 3.375

Tenco bot 200 July 900/860 Put spds 7 db

Obrien Bot 1500 July 980 Puts/ Sold 1000 July 1020 Puts even-.25 db

Rosenthal Bot 400 July 860 Puts 8.375

ABN Bot 900 July 1020/1100 Call spds 24.25-24.5 db

Rosenthal Sold 375 WK1 960 Calls 27-30.5

ADM Bot 1000 March 960 Puts 6.875-7.5

FI Sold 300 March 970 Straddles/ Bot 300 March 990 Straddles 3.5 credit/ Bot 108 March futures 990

EDF Bot 900 Jul 1020/1100 Call spds 25.25-26.5 db

Rand Sold 500 May 940 Puts 14.5-14.625

Obrien Bot 500 May 950/910 Put spds 9 db/ Bot 55 May futures 1002

Macquarie Bot 600 March 1000 Calls 15.75/ Sold  288 March futures 994

Macquarie Bot 500 March 990 calls 19.75-20

Obrien Sold 500 March 1000/960 Put spds 15.875 credit/ Sold 160 March futures 992

TJM Sold 250 May 1000/920 Put spds 29.25 credit

 

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

 

Data source: Jon Karmin and Jeff Pogonitz bean option brokers