Weekly Update. Current Positions

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Kristopher Lewis
5 years ago
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1 Published by: Nick Metzger 9/20/2013 2:39:05 PM Weekly Update No new entries for the week, but we did exit our November Crude Oil condor on Monday for a profit. We bought back our 102/95 put spread and 112.5/120 call spread at 140 pts. We collected 230 pts. on entry so that gave us a profit of 90 pts. per spread ($900-fees). With the recent sell off in the energies, we might be looking for a possible new entry next week. Current Positions November Soybeans We are still holding onto our put from 6.50 cents. The market has started to pull back, but we haven t seen any premium added back into our option yet. Beans did fill the August gap and closed 25 cents lower today. We will see if this can cause some follow through selling and re-test the level. Hold for now.

Our goal again is to trade as close as possible to the 440 level.

2 December Corn Corn also finished lower which is good for our butterfly spread. We are long 1 Dec corn 500 put, short 2 of the 440 puts, and long 1 of the 400 puts from 20 cents. Our goal again is to trade as close as possible to the 440 level. The market is currently trading around 450, so we are close. Our target remains at 40 cents for the spread (+20 cents) and stop at 10 cents (-10 cents). The current value of our spread is around cents ( cents before fees). Hold for now.

3 December Euro FX We entered a long condor position last week with the expectation that Wednesday s Fed meeting would cause some volatility. Volatility did spike in the currency market, Which was good for our Euro FX spread. We are long the Dec Euro FX 1.315/1.290 put spread and long the 1.345/1.370 call spread at a debit of 131 pts. Our spread is now trading up around 157 pts., but things are starting to stall. We will give this spread a few more sessions to play out and see if the Euro can continue rallying. Our target remains at 191 pts. (+60 pts.) on the spread and stop at 101 pts. (-30 pts). Hold for now.

STOP ORDERS DO NOT NECESSARILY LIMIT YOUR LOSS TO THE STOP PRICE BECAUSE STOP ORDERS, IF THE PRICE IS HIT, BECOME MARKET ORDERS AND, DEPENDING ON MARKET CONDITIONS, THE ACTUAL FILL PRICE CAN BE

4 STOP ORDERS DO NOT NECESSARILY LIMIT YOUR LOSS TO THE STOP PRICE BECAUSE STOP ORDERS, IF THE PRICE IS HIT, BECOME MARKET ORDERS AND, DEPENDING ON MARKET CONDITIONS, THE ACTUAL FILL PRICE CAN BE DIFFERENT FROM THE STOP PRICE. IF A MARKET REACHED ITS DAILY PRICE FLUCTUATION LIMIT, A LIMIT MOVE, IT MAY BE IMPOSSIBLE TO EXECUTE A STOP LOSS ORDER. STRATEGIES USING COMBINATIONS OF POSITIONS, SUCH AS SPREAD AND STRADDLE POSITIONS MAY BE AS RISKY AS TAKING A SIMPLE LONG OR SHORT POSITION.

5 RISK DISCLOSURE: THIS MATERIAL IS CONVEYED AS A SOLICITATION FOR ENTERING INTO A DERIVATIVES TRANSACTION. THIS MATERIAL HAS BEEN PREPARED BY A DANIELS TRADING BROKER WHO PROVIDES RESEARCH MARKET COMMENTARY AND TRADE RECOMMENDATIONS AS PART OF HIS OR HER SOLICITATION FOR ACCOUNTS AND SOLICITATION FOR TRADES. DANIELS TRADING, ITS PRINCIPALS, BROKERS AND EMPLOYEES MAY TRADE IN DERIVATIVES FOR THEIR OWN ACCOUNTS OR FOR THE ACCOUNTS OF OTHERS. DUE TO VARIOUS FACTORS (SUCH AS RISK TOLERANCE, MARGIN REQUIREMENTS, TRADING OBJECTIVES, SHORT TERM VS. LONG TERM STRATEGIES, TECHNICAL VS. FUNDAMENTAL MARKET ANALYSIS, AND OTHER FACTORS) SUCH TRADING MAY RESULT IN THE INITIATION OR LIQUIDATION OF POSITIONS THAT ARE DIFFERENT FROM OR CONTRARY TO THE OPINIONS AND RECOMMENDATIONS CONTAINED THEREIN. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE PERFORMANCE. THE RISK OF LOSS IN TRADING FUTURES CONTRACTS OR COMMODITY OPTIONS CAN BE SUBSTANTIAL, AND THEREFORE INVESTORS SHOULD UNDERSTAND THE RISKS INVOLVED IN TAKING LEVERAGED POSITIONS AND MUST ASSUME RESPONSIBILITY FOR THE RISKS ASSOCIATED WITH SUCH INVESTMENTS AND FOR THEIR RESULTS. YOU SHOULD CAREFULLY CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR CIRCUMSTANCES AND FINANCIAL RESOURCES. YOU SHOULD READ THE "RISK DISCLOSURE" ACCESSED BY THE LINK BELOW. DANIELS TRADING IS NOT AFFILIATED WITH NOR DOES IT ENDORSE ANY TRADING SYSTEM, NEWSLETTER OR OTHER SIMILAR SERVICE. DANIELS TRADING DOES NOT GUARANTEE OR VERIFY ANY PERFORMANCE CLAIMS MADE BY SUCH SYSTEMS OR SERVICES.

Turner s Take WASDE Expectations vs. Sept WASDE report:

Turner s Take WASDE Expectations vs. Sept WASDE report: Published by: Craig Turner 11/4/2013 4:02:09 PM In this issue 1) CORN: USDA Friday exected to be bearish. Looking to short Corn ahead of WASDE 2) SOYBEANS: Short Bean Ideas with Long Call Protection 3)