Sunday, October 16, 2011

new Trade for Jerermey

After getting stopped out of my scale wheat trade last week; I decided to try another scale type trade.  This time on corn; as my chart I posted on Friday I thought looked like a selling opportunity.  Plus I think that this year's harvest still hasn't seen the producer selling that I think happens at the tail end of harvest.

My new trade is off of Dec corn; it is also a scale trade.

Sell 1 at 6.43

Sell 1 at 6.47

Sell 2 at 6.50

Sell 3 at 6.55

Sell 5 at 6.60

Sell 8 at 6.70

Risk to 7.00

Objective of 5.85; with plans of moving stop up if I can lock in a winner or adding option leg to protect profits.

To add a little complexity I am also selling 2 of the 6.00 puts for 12 cents a piece.

Which turn into covered puts if I get my first couple of orders filled.

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