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South Central Iowa | I think that is primarily related to the range I mention; $9.04-$10.32. Someone could define the range slightly differently, but it would still have the same effect. We are not moving. There is no direction (volatility). Even though we move within the range, the market says our chance for breakout is low.
I think that there is value in the puts. A September serial $9.20 is a dime. Buy some of those and long futures on a pullback and you are bottom side protected with upside potential. Granted it requires a pullback. I don't know about the calls though. I feel an atm September for 50c+ is too much. But I am not much of an option trader at all and hardly ever buy calls.
The short-live spike is very much like last year... which would be no fun. | |
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Soybean Charts
