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| About 20 plus years ago I was short July soybeans calls and the weather market was starting to heat up in middle of June .On the last day of trading a Friday the market closed 2 cents below my strike. Whew thought I had lucked out. After the close the NWS released the 6 to 10 day forecast hot and dry for the corn belt! Who ever held the long position exercised their call on me even though it was 2 cents out of the money thinking limit up open on Monday morning. Well early Monday morning before the opening the private forecasters called for widespread rains by midweek. Market opened limit down, It's midmorning and I checked my brokerage statement only to find I'm short July futures 2 cents higher than they closed on Friday. Just thought I'd share with you. Take the good with the bad! | |
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limit move on option expiration?
