Death comes to us all. Life's but a walking shadow | As part of my "education" I have been following the Commitment of Traders thinking that it might offer some clues as to the structure of the corn & soybean futures markets. It does seem to document the expiration of substantial soybean options written in early Sept. Whether or not the expiration of these options had anything to do with the recent rally isn't so clear. It does seem to confirm the idea that both managed money and other reportables are "semi" passive investments which make money writing options. Hopefully the charts are relatively self-explanatory. The data for the futures only and futures & options combined come directly from the COT long form reports. The options only are the futures & options data point minus the corresponding futures only data point. Perhaps someone else would suggest possible interpretations.
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Attachments ---------------- 14 soy OI-page-001.jpg (55KB - 923 downloads) 14 soy futs only longs-page-001.jpg (64KB - 907 downloads) 14 soy futs only shorts-page-001.jpg (55KB - 937 downloads) 14 soy futs&opts longs - Copy-page-001.jpg (52KB - 947 downloads) 14 soy futs&opts shorts-page-001.jpg (54KB - 927 downloads) 14 soy opts only-page-001.jpg (55KB - 914 downloads) 14 soy options only shorts-page-001.jpg (65KB - 949 downloads)
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