OptionEye Feb 10th
Volatility was crushed in the corn option pit yesterday as the report really didn't light anyone's fire.
I have noticed two rather large trade ideas as of late. Firstly, there is a very large buyer of the July 640 and 650 straddles in corn. Relentlessly purchasing them over the last two weeks. Also, I have notice a large amount of put buyers. More than I normally see. This tells me that some of the investors out there have reduced their bullish stance. Before the Jan report we had a ton of call buyers who ultimately were disappointed. We will wait and see how the acres and weather pan out shortly.
Re: OptionEye Feb 10th
How will the two large demand nuggets play out in today's market? China and Egypt bought large amounts of U.S. soybeans and corn today. Any floor buzz? Or, will the market be trumped by other things today?