Long soybean/ short wheat or the contrary? Fundamentally it is hard to be long soy/short wheat at these levels...
Yeah, I meant long soybeans short wheat. I saw the trade on seasonalgo, but haven't really looked into it. The main thing that caught my eye was just the performance over the past several years. It seemed to be at a low towards the end of January for the past 4 or 5 years in a row before really starting to move up. I need to look into it though. Planning to work on that tonight.
Getting a little bit of heat here. I have to be more patient sometimes. On liquid stuff you'd better leave a non marketable limit order and wait for noise to get a fill...Thinking about averaging down here , something is really unusual with the curve...
I was debating on averaging down on this one also. The only thing that made me hesitant was I believe it has gone a decent amount further than where we are at now before, I wouldn't want to average in too early and see it go to 10. Idk I'm going to watch it some today and might add to it also.
Averaged in on the ZM fly at 7.2 so avg cost at 6.4. I was also in the KW/ZW wheat spread from 35.5. I regrettably got shaken out at 38.75 though. I noticed several of these spreads had sold off towards the end of january for some reason, so I was thinking I could get out and attempt to get in at a lower price. What I didn't realize until afterwards was I got out after it had already moved down like 6 or 7 pts, so that probably WAS the move down and I essentially exited at the bottom. Regardless, still a profit. I think I will enter tonight if it is at a decent price. Shouldn't let missing a few points keep me out of the rest of the move. These are a few of the spreads I am looking at: ZN15-ZMQ15 ZN15-ZX15 -ZWN15+ZWZ15 Looking at a few more, but those are the ones at the top of my watchlist currently. Anybody else in either of those three or have a take on them they care to share?
I am going to chalk that up to a lucky call lol, I am still not back in yet though. I don't have a pending order so will need to wait until I get home tonight because I don't want to leg in from my phone if I do enter again. The July/Dec wheat spread is a little cheaper today I believe, I am following along with it and the soybean spread. Not so confident on the soybean/wheat spread which I was considering. I need to learn more and get a better understanding on it because it seems to make some significant moves.