Bean Option Recap From Jon Karmin

Beans initially rallied off a stocks number which was a bit below expectations but as the near 400 carry out again sunk in traders saw the higher trade as an opportunity to get short.  It was a very poor close and I expect the market to sell off further if we trade just a bit lower tomorrow which would put us below recent support.  Vol got crushed as market action  suppressed any fear in the market.

 

Bean vols:

March vol 17 ¼ down 1 ¾

April vol 17 ¼ down ¾

May vol 18 ¾ down a ½

July vol 19 ½ down a ½

Nov vol 18 ¼ down a ¼

 

Bean ATM straddles:

March 970 str 23-23 ½

April 970 str 47-48 ½

May 970 str 64-66

July 980 str 93 ½-94 ½

Nov 960 str 122-123 ½

 

Players:

ABN Sold 200 March 1000 Puts/ Bot 200 March 920 Puts/ Bot 200 March 960 Puts 21.25 credit

FI Sold 1200 March 960/920 Put spds 6.5-6.75 credit

Rosenthal Bot 200 N/X CSO 10 Puts 7.5

EDF Bot 1000 March 970 Straddles 26.5-27

ABN Bot 1200 May 920 Puts 12.75-13.25

Jefferies Sold 200 May 960/900 Put spds 16.375 credit

FI Sold 500 March 1000 Puts/ Bot 500 May 970/920 Put spds 14.5 credit/ Sold 300 March futures 972

Obrien Sold 500 Nov 940 Puts 50.75-52.875/ Sold 210 Nov futures 958-962

TJM Sold 600 May 1000/1020 Call spds 6.875-7 credit

ABN Bot 1000 Jul 1100 Calls 12.25-12.5

Jefferies Bot 500 Jul 900 Puts 17

EDF Bot 600 March 1060 calls .375-.5

Macquarie Sold 500 March 990 Calls 8/ Bot 240 March futures 980

Rosenthal Sold 1500 March 970 puts 7.5-9

Rosenthal Sold 1500 March 990 Puts 17-19

Obrien Bot 500 March 970 Straddles 23

TJM Sold 1000 May 900 Puts 8.5-8.75

Rosenthal Bot 500 March 960 Puts 8

ADM Sold 500 May 910 Puts 10.5

Marex Sold 400 May 900 Puts 8.625-8.75

Macquarie Sold 400 March 930 Puts 1.625

 

 

 

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

 

Data source: Jon Karmin and Jeff Pogonitz bean option brokers