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South Central Iowa | Agree with Reaper.
Funds are complicated traders and are heavily interwoven with the market. They utilize calendar and intra-crop spreads with their outrights all hedged by a variety of put and call strangles and collars all contemporaneously. Moving a market to make money by large participants is usually a function of shifting their balance.
These excess puts most likely are rolled down from puts that were deeper in the money, say $3.80+. What's more, those those same people could be selling puts below where they own $3.45's while outright shorting September and buying December calls, all simultaneously. All this is monitored by formulas and algorithms they utilize to find entry and exit points and monitor risks.
They are complicated. Remember Soy Roy: He who sells uncovered options goes broke.
Edited by Conan the Farmer 8/23/2017 14:03
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RE: SEP Corn Options
