Bean Option Recap From Jon Karmin

Very quiet day in beans as the market consolidated.   Vol started the day firm but as it became apparent we weren’t going anywhere sellers hit the market and sent vol off from its early highs.  The at the money SK straddle traded from 49 down to the closing level of 46.75.  I don’t see the straddle going too much lower before next week’s report as certainty will remain in this market until we receive the data.  SJ vol  17 down 1.25 SK vol  20.25 down .5 SM vol  20.25 down .5 SN vol  21 down .5 SX vol 21 down .25

Straddles

SJ 980 13.5-14.5

SK 980 46.5-47.5

SM 980 63.5-64.5

SN 980 83.5-84.5

SX 960 121-122.5

Players

Jefferies Sold 2000 May 1060 Calls 3.25-3.5

Rosenthal Bot 200 SDFJ 960 straddles 13.5

JP Morgan Sold 800 May 1000/1020 Call spds 5.5-5.625 credit

Jefferies Bot 900 May 940 Puts 9.75-9.875

TJM Sold 1000 May 900 Puts 2.25-3

Rosenthal Sold 500 April 980 Calls 5.75-6.25

Obrien Sold 200 may 900 Puts 3

Rosenthal Sold 200 April 980 Puts 9.5

DRAX Bot 600 WK1 960/940 Put spds 5.25-5.5 db

TJM Bot 500 April 960 Calls/ Sold 1000 May 990 Calls 18.25-18.5 db

FI Sold 500 Jul 1000 Straddles 84.75-87

Rosenthal Bot 200 April 980 Puts 8.875

Rosenthal Bot 1000 April 950 Puts .75

Rosenthal Bot 500 Jul 980 Puts 41.5-42

ADM Sold 200 Jul 980/940 Put spds 17.625 credit

Macquarie Sold 200 Jul 1080 Calls 12.25/ Bot 24 Jul futures 982

DRAX Sold 500 May 970 Calls/ Bot 500 April 970 Calls 16.5 credit/ Sold 50 May futures 978

FI Bot 250 May 950/920 Put spds 7.5 db

ICAP Sold 250 May 1040 Calls 5.5/ Bot 40 May futures 977

FI Sold 800 May 900 Puts 2.625-2.75

TJM Bot 300 may 950/920 Put spds 6.875-7 db

FI Sold 300 Nov 920 Straddles 123.75-125

Rosenthal Sold 250 May 1000 Puts 34.5

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

Data source: Jon Karmin and Jeff Pogonitz bean option brokers