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For: Wednesday 05-19-2010

Bounce Time

The corn market keeps trading into and just through support. There has not been a lot of sustainable weakness lately. Given the volatility we have in the options we will look to sell out of the money puts for an intermediate term trade.

Aggressive traders may opt to use futures. As always please consult your personal broker at Great Pacific Trading Company to see if this trade is suitable for your account.

Trade Recommendation: Sell a September 330 corn put for 10 cents on a limit. Risk to the option doubling in value. (>$500 not including commissions and fees), Look to take profits if the call trades to below one cent.