Trade Commentary: 08 April 2019 MONDAY
I’ve decided it’s time I should bank some profits.
I sold the JUL19 Crude Oil 45-strike PUT for 0.18 ($180). It last traded Friday at 0.06, so there is a $120 profit to be realized. I will try today to make a closing purchase near 0.06. Overnight during the weekend, Crude Oil futures are up 1.00 and more, so it is likely I’ll be able to do this. If not, I will strongly consider putting in a GTC order to close this trade at/near 0.06.
Also I sold the SEP19 35-strike Crude Oil PUT for 0.09 ($90) and it last traded Friday for 0.03. I will try to close this out for 0.03 today (Monday 4/8/19).
SEP19 Crude 35P origination at:
I have also put in a GTC (good til canceled) order to buy back the Corn DEC19 short 540-strike CALLs at 1.375. During this weekend, DEC19 corn was 389.75 and if it drops another few cents, I can take profit on DEC19 540 CALLs and perhaps will sell another CALL strike a little lower than 540. See video below.
If you need a quick refresher on my comments about CORN, see: https://www.timefarming.com/blog/01-april-2019/
I’m still wanting to sell some CALLs on NOV19 Soybeans. I’ve been watching the NOV19 soy bean 1200-strike CALL and it last traded at 2.875. I had hope we might get some rumored or real news to push the soybean prices a little higher, but the huge amount of stocks have kept prices down so far. I may reconsider either the amount of premium for the 1200-strike CALL or perhaps a lower strike soon. And in the video (below) you’ll see I could also be shopping the JUL19 soybean CALLs to sell.
Here are additional comments in video form for today:
To All Members and FREE TRIAL participants:
I made a video that address the most FAQ (Frequently Asked Question) I get from subscribers and potential subscribers and also run down some tips to help orientate users to this website. Thank you and have a great week. – Don
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