Friday, August 10, 2012

Corn 8/10

Welp, the report came out and for a second, corn reach up towards $8.49, only to retrace to 816.  Exited 830 call option for a loss of 10 cents, at 818 bought 2 more $9.00 called for 31 cents each.... holding 7 $9.00 Dec call options at an average price of 37 cents... at 824, $9.00 call are trading for 33 cents... Can accept a 28 cent loss, so will be holding for a little longer... would accept a 14 cent loss, unless we see some strength...however will probably hold from here...

Thursday, August 9, 2012

Corn 8/9/12

Have scaled in with 4 Corn $9.00 Dec call option and 1 $8.30 Dec... Average entry at $8.24 on the Dec contract... Also Grabben 2 Bean $18.00 Oct Call options at 1588... Currently, Breaking even at 1:00 on the Corn trade and Doing well on the the Bean trade..
Had a strong open on the pit with a test of 829 just before 1:00 we had another test which was also rejected.. Support at $8.23 and Resistance at $8.29... Small Range ...  USDA Report out tomorrow morning and am VERY nervous heading in... Hoping for a close at the top this afternoon, with the Robots taking it higher overnight... May the Force be With You...

Wednesday, August 8, 2012

Corn 8/8/12

Been awhile since my last post as I have been busy trade corn... Took 1 call option yesterday at 797 and looking for a better entry heading into the report... Currently trading at 806... The plan is to scale in with 2 more options for a total investment of $7.5 k... Hoping to better my 830 call which I originally paid 48.7 cents... Still have tomorrow with the exports... and will definately buy 1 more, no matter the price, before the report... Mange risk, stay long...