Posted 2/7/2007 14:52 (#100810 - in reply to #100741) Subject: RE: Consolidating Chart?
I don't know if this will help but let me give you my perspective of your situation. I started selling cz07 a long time ago up until a sale at $4.03. My avg. on sales is "only" $3.38 futures price. That is 54 cents less than today's price. I've already contracted 57% so if I took today's price on all my unsold bushels my total avg. would be about $3.61 or 31 cents less than today's price.
How much can you spend on puts and still be way ahead of me? I have bought a few calls and long futures that I didn't include above but any profit in them is not guaranteed until I close my positions.
I plan to buy puts to cover more of my production if we get to say $4.20. Hopefully, I'll unload my longs profitably also.
I hope that helps you. Anybody want to post their positions? I'm guessing that I'm at the bottom of the price heap compared to nearly everyone else today but I'm more content with my marketing than I have been for the last few years.