Below are some of the charts we covered in this afternoon's session
Today he purchased a 7.50 corn put (2 of them) and purchased a 15.00 bean call.
He then added a spread trade via buying oats and selling corn.
Dan had a couple future trades as he went long Dec corn at with a nickel rick and an objective of 15 cents profit. His other trade was short KC March with a 15 cent risk and an objective of about 40 cents profit.
Dan still owns the 13-13.80-14.60 Nov bean butterfly in that he is long a 13 call short 2 of the 13.80's and long 1 of the 14.60 calls.
Kevin Went long Nov Beans and short 2 contracts of Dec corn. Kevin also had a ratio spread trade open and during the last week it hit his follow up point.
He is long a 7.00 call versus 2 short 7.60 Dec call for about an 8 cent credit. He then rolled the 2 7.60 calls out to 4 of the 8.20 Dec Calls and also managed to do this for a credit.
Myself I added a couple of option trades via buying a 7.00 July 2012 corn call against 3 short 8.50 corn calls collecting a net of about $2100 or so. Thus having upside room and downside potential to make some money; but VOL isn't exactly my friend; so my ratio spread will be tough to manage.
The other trade I placed was hedge type of trade via shorting 1 of the Dec 2012 6.50 corn calls and buying 6 of the 7-6.50 Nov 2011 corn bear put spreads. A bear market bet that will return good if we have a hard breakdown; while if I look at it in a producers eyes it could be similar to a ending up in a HTA contract in 12 while getting nearby price protection.
I do have one open trade out there where I have the 7.20 Dec calls and puts purchased against the sale of 3 each of the 6.50 puts and 8.00 calls.