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| Uffta that is the joke... they spend all your money on options (i believe that is what he is saying).
I will disagree though on the earlier statement that options can't help you lock in near the top... options have helped us to a hell of a year! Something to be desired on corn still but that's another story. Our office recco's currently have us sitting at about $6.80 corn, and $1.10 above the bean market for 2011... (still sitting on 100% cash though which i wholeheartedly disagree with. )
The tough thing to sort out is guys that want to truly protect a crop with options using valid strategies... and the guys that just want to churn trades... the latter make me want to strangle someone! Buy puts, sell calls. like putting on a call spread (only you can get margin calls if it climbs to the top)... only the calls negate the cost of the put giving you a much cheaper (sometimes free) position.
9 times out of 10 I think spending money on call spreads and such is throwing good money after bad... just my perspective though.
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