Those calls sure don't look cheap to me right now. I think I am going to wait a little while and see what happens. A lot of years I have waited until the corn gets in the ground and then it seems like the calls get cheaper. There have been a couple of years that I have been concerned about planting delays but it seems like that never lasts too long. Also I think after May is no longer the lead month it seems like some of the time value also goes off. I am actually hoping for a little pull back here and then hopefully get some old crop hedges turned into cash sales and some calls bought to protect some of my NC hedges. I kind of like the Sept. calls as they don't go off the board until after there would be a weather problem and they always seem cheaper then Dec. |