Good trade so far ... Do you hold these trades for a certain length of time ... Or until you get to some objective pattern / price?
I don't know about the Russian situation as it applies to wheat so much. I do think the Russia situation and wheat bullishness bled over to the other grains last week. Option expiration is Friday, and I think funds are still long soybeans. There are a ton of soybean sold puts out there. The higher the soybean price goes, the more of those puts expire worthless.
I have an objective and a stop, but when the trade is going nowhere after a certain amount of time I will try to liquidate at my entry point or wherever it is at the time ...
Looks interesting, I'll keep an eye on it... MRCI is suggesting H/U which has a similar pattern on the chart, but U has tiny open interest right now.
Thanks. It's a good period for my short term trades. I meant -10 of course( if you quote spreads like old locals )
Today I also took some profits on 1/2 my position on LHM/G @ 12.0. It still looks strong from here, but you never know...
It's been kinda slow in the ag space for me the last month or so. I'm in SMH/BOH but it's been chopping around my entry. I'm also still hanging on to 1/2 position of LCM/G but it's running out of time.