No adjustment trades where made; but the following trades where placed.
Dan the man bought KC March wheat at 7.20 with rather aggressive objective of 8.90 while risking to 6.90. Awesome risk reward ratio if he can let a winner ride that long.
Jordan bought some volatility as he went long the 6.40 Dec corn call as well as the 6.40 dec corn put; spending about 55 cents total.
My self (Jeremey) placed an aggressive ratio calendar type play in beans. I bought 9 of the 13 jan bean calls, sold 10 of the 13.50 calls, sold 1 of the Nov 2012 bean puts, and purchased 1 of the 11.70 Jan bean puts. Bottom line a bullish bean trade.
We did book some losses this week as some of the Nov options expired and with that we took some futures. Jordan is now long 1 Nov bean at a net of 13.70 and 1 at a net of 13.00
I decided to offset my what would have been long Nov bean contract and exited my three leg trade booking a loss.
Since our new fiscal year started we now have overall winners totaling about $49k with losers totaling about $12k.
Net open positions total are down about 2k; most of which is Jordan's bean longs down about 11k.
We hope to see you next week at our meeting!