5/30/14 Close short Sep. 2014 BO @ 39.10 for + 3.77 Close long Jan. 2015 BO @ 39.49 for - 3.00 Points + .77 or $462 per spread.
It's an intercrop spread. It is super dépendent on this year soybean crop... What was the basis for the trade?
Initial $1265 maint $1150 per contract. Don't know if some brokers have lower on the spread, my experience is that online deep discount futures brokers rarely have the systems to calculate reduced margin on spreads. Since it's always best to have more than needed I really don't pay much attention. I'll admit that I entered the trade a little early. Based on the settle prices, at one time I had a $300 drawdown.
It was a very nice trade, well planned and nicely executed. Do you specialize in crops and agri spreads or do you trade other stuff also?
I track just about everything. In the agri's I've done well in the BOs and the Soy product spreads, but never played the soy crush. I have also done well in the energy sector, a few times in the full crack spread, but mostly in the HO vs. CL or RB (or HU) vs. CL. (play mostly when the crack is negative which is rare). Have had some good times in the feedlot spread. I think next year will be very interesting based on the cattle cycle. My trading in the Equity Index futures is limited to day-trading. In equities I mostly do covered calls either to exit or to augment dividends. Been trading since 1975 so by now I have about 10,000 spreadsheet files.