Wednesday, November 9, 2011
Update on trade for Jeremey on short corn
With the USDA report neutral to friendly corn; I am going to take the chance this morning and buy back my short corn scale trade. Presently Dec corn is at 6.48; so this allows me to lock in a little over $4,000 profit. I am not going to re-enter this trade; but I am going to place a buy stop at 6.65 basis the Dec to go long 1 contract; if I do get filled I will then place buy orders at 6.60 for 2, 6.55 for 3, and 6.50 for 5. But only if I first get filled by the stop.
Labels: Beans, charts, Charts and Strategies, commodity price risk management tools strategies grains futures options money cash flow, crop conditions, Delta Neautral Trading, Leverage Optoins Futures, Marketing Tools, MWC Marketing Hour Round Table, opening grain comments, option selling, Price Management, USDA Crop Report Supply and Demand