Ok everybody just got back from work about an hour ago and man did it suck!!! Putting in 12 hours a day stacking boxes on crates isn't that fun if you are curious lol! Like previously said I did dump my 2 july/auggie hog spreads at -1.00......$560 profit there. Looking back they are probably still good but I will leave this trade alone for a little while. Still short 3 coffee and still short my 2 straddles in dec corn. I did manage to get 1 long auggie/nov beans @ 15.......beans are going to get a few more acres imo.......however I still think the bulk of acres go to corn.......most don't agree with that statement but think about it, we have great prices and my feelings are most producers have already sold a substantial amount of their crop, have already invested in the necessary measurements to plant corn this year (phosphorus, nitrogen, potash, anhydrous, etc). If they need to replant obviously some will plant beans but my guess is majority of farmers will just plant a quicker maturity corn such as a 90 day maturity corn. Also demand in beans still remains good and stocks could get tight this summer. I also bought 1 sep kc/chi wheat spread @ 37.......just a play that I feel good about. Not much else to say about it. I still want to get short sep/march natty gas around .5 but so far no luck. Its a seasonal play and judging from a chart once that spread gets around .5 it sells off......if we break through that level I will know something fundamentally has changed. I also want to sell july 10.50 sugar straddles.......expiration is in 11 days and I think that trade is literally free money!!! Vol shouldn't go much higher and it looks like we could range a bit before heading on either another leg down or bouncing off these support levels. Well im dead.......going to take a quick nap before things get active in the markets above today. Good trading guys!
i like the bean spread im gonna put one on, had too much margin tied up the other day with 4 coffee contracts lol!
Out of all my coffee at 135.30 for a $4200 profit. Still holding corn straddles Bought 1 more auggie/nov bean spread which puts my average at 14 cents now for 2 spreads. Still got the sep kc/chi wheat spread at 37 I also sold a july 10.50 straddle for .72 this trade is my biggest concern so far with expiration nearing the spread isn't in its range of profitability yet.
hey YT you wouldnt believe how much fucking rain we've got here in the last few days. its beautiful man, you still getting pounded
Yeah man we have been getting pounded hard!!! It has rained probably 3 days so far this week!!! Heard secretary of USDA came out and said that he is extremely worried about corn production for this year (didn't say much about beans though). You get that kind of news and the crop looks just about as bad as it can look and we don't even close limit up???? This market is weak man and I know dad is planning on pummeling the OTM corn options tomorrow (won't say which ones on a public forum). I wish I would of covered my fucking kc/chi spread but it probably will turn around but I don't like to take too much heat on any one thing when I have a million positions on you know? Any thoughts on nov/jan beans here? I like em but don't know how much volume that spread has.
To be honest I couldn't exactly tell you.......I started this journal with roughly 10k and now its over 65k (last time I checked). However while most of that has been made off of the trades from this journal some has been made off of intra day trading, at the same time though I have taken some substantial draws out of the account though.........in the end I guess its anybody's guess lol! Good Trading