20 September 2019 FRIDAY newsletter

Greetings: Friday 20 September 2019

Closed my DEC19 Corn 320-strike PUTs.  I made a closing purchase at 0.50 cent today.  They were sold for 1.5 cents, so the profit per option is 1.0 cent for +$50 Profit excluding commission.  

Comments:  Back on September 5th I sold those DEC19 Corn PUTs and the underlying DEC19 Futures were trading about 360.5.  See: LINK.  This morning, the DEC19 Corn is trading about 373.50.  I will post my next comments probably Monday afternoon or at the latest midday on Tuesday.  The preliminary trade talks between China & USA are in session in Washington D. C. and the higher-level talks are scheduled for October.  I chose to take profit on the Corn 320 PUTs because I didn’t want to give back the profit and there was very little left to gain by holding them.    Depending on the USDA reports and trade-talk news, I will be watching for a dip in Corn prices to again sell some PUTS and of course, take a profit on my short DEC19 Corn 420-strike CALLs.

There are a lot of new pictures and commentary in the news reports today about the attacks on Saudi Oil refineries.  This remains a volatile market and there is always a chance of some more tensions and talks of retaliation to stir the oil market.  

I’ve held off selling Soybean CALLs due to the instability of the trade talks.  No doubt, stocks of beans are very plentiful even if there is some agreement for China to buy beans.  Still, in spite of large bean inventory, advances in the trade talks could bounce prices up – and THAT could create an opportunity to sell soybean CALLs.

That is all today. Have a great weekend. – Don

Don A. Singletary

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