The grain markets have moved lower over the past three weeks. December corn is down 85 cents or 15% to 484 and down a dollar and 46 cents, or 23% since the highs in June. November soybeans are down over a dollar or 8% to 1321, and December wheat is down over a dollar and a half, almost 20% to 637 since it failed to reach the 800 level July 25th. The last time December wheat traded 800 was February 21st of this year. I feel that the grain markets will continue to be volatile during harvest time with the weather patterns continuing to change, and the future unknown conditions of the war in Ukraine.
SOYBEAN CALLS
| MONTH | STRIKE | PRICE | COST |
| NOV ’23 | 1400C | 16 1/2 | $825 |
| 1450C | 9 1/2 | $475 | |
| 1500C | 5 1/2 | $275 | |
| 1600C | 2 1/2 | $125 | |
| 1700C | 1 1/4 | $62.50 | |
| ATM X1300C 54 1/2 | ATM STRADDLE 94 3/8 | EXPIRES 10/27/23 | |
| MAR ’24 | 1500C | 19 | $950 |
| 1560C | 11 5/8 | $581.25 | |
| 1600C | 8 7/8 | $443.75 | |
| 1700C | 4 3/4 | $237.50 | |
| 1800C | 2 3/4 | $137.50 | |
| ATM H1320C 69 5/8 | ATM STRADDLE 131 3/8 | EXPIRES 2/23/24 | |
| JUL ’24 | 1500C | 27 1/2 | $1375 |
| 1560C | 20 | $1000 | |
| 1600C | 15 1/8 | $756.25 | |
| 1700C | 8 3/4 | $437.50 | |
| 1800C | 5 3/8 | $268.75 | |
| ATM N1320C 82 7/8 | ATM STRADDLE 150.25 | EXPIRES 6/21/24 |
SOYBEAN PUTS
| MONTH | STRIKE | PRICE | COST |
| NOV ’23 | 1250P | 20 1/4 | $1012.50 |
| 1200P | 9 1/4 | $462.50 | |
| 1150P | 3 3/4 | $187.50 | |
| 1100P | 1 7/8 | $93.75 | |
| 1000P | 1/2 | $25 | |
| ATM X1300P 39 7/8 | ATM STRADDLE 94 3/8 | EXPIRES 10/27/23 | |
| MAR ’24 | 1260P | 35 3/8 | $1768.75 |
| 1200P | 17 3/8 | $868.75 | |
| 1160P | 11 | $550 | |
| 1100P | 5 3/8 | $268.75 | |
| 1000P | 1 7/8 | $93.75 | |
| ATM H1320P 61 3/8 | ATM STRADDLE 131 3/8 | EXPIRES 2/23/24 | |
| JUL ’24 | 1260P | 35 | $1750 |
| 1200P | 24 | $1200 | |
| 1160P | 16 | $800 | |
| 1100P | 8 1/2 | $425 | |
| 1000P | 3 1/8 | $156.25 | |
| ATM N1320P 67 3/8 | ATM STRADDLE 150.25 | EXPIRES 6/21/24 |
CORN CALLS
| MONTH | STRIKE | PRICE | COST |
| DEC ’23 484 | 520C | 10 7/8 | $543.75 |
| 550C | 6 3/8 | $331.25 | |
| 600C | 2 3/8 | $118.75 | |
| 650C | 1 3/8 | $68.75 | |
| 700C | 3/4 | $37.50 | |
| ATM Z480C 28 3/4 | ATM STRADDLE 59 7/8 | EXPIRES 2/23/24 | |
| MAR ’24 498 | 550C | 14 5/8 | $731.25 |
| 600C | 6 7/8 | $343.75 | |
| 650C | 3 5/8 | 181.25 | |
| 700C | 2 | $100 | |
| 800C | 1 1/8 | $56.25 | |
| ATM H500 C30 | ATM STRADDLE 59 7/8 | EXPIRES 2/23/24 | |
| JUL ’24 511 | 550C | 26 | $1300 |
| 600C | 16 | $800 | |
| 650C | 10 1/2 | $525 | |
| 700C | 5 | $250 | |
| 800C | 2 3/4 | $137.50 | |
| ATM N510C 47 | ATM STRADDLE 81 5/8 | EXPIRES 6/21/24 |
CORN PUTS
| MONTH | STRIKE | PRICE | COST |
| DEC ’23 484 | 460P | 11 3/8 | $568.75 |
| 450P | 8 1/2 | $425 | |
| 420P | 3 1/4 | $162.50 | |
| 400P | 1 5/8 | $81.25 | |
| 370P | 1/2 | $25 | |
| ATM Z480P 19 5/8 | ATM STRADDLE 48 3/8 | EXPIRES 11/24/23 | |
| MAR ’24 498 | 470P | 14 7/8 | $743.75 |
| 450P | 10 1/4 | $512.50 | |
| 400P | 2 5/8 | $131.25 | |
| 370P | 1 | $50 | |
| 350P | 1/2 | $25 | |
| ATM H500P 29 7/8 | ATM STRADDLE 59 7/8 | EXPIRES 6/21/24 | |
| JUL ’24 511 | 470P | 19 | $950 |
| 450P | 11 | $550 | |
| 400P | 4 1/4 | $212.50 | |
| 370P | 1 7/8 | $93.75 | |
| 350P | 1 | $50 | |
| ATM 510P 34 5/8 | ATM STRADDLE 81 5/8 | EXPIRES 6/21/24 |
WHEAT CALLS
| MONTH | STRIKE | PRICE | COST |
| DEC ’23 637 | 700C | 33 | $1650 |
| 750C | 22 5/8 | $1131.25 | |
| 800C | 14 3/4 | $737.50 | |
| 900C | 9 1/2 | $475 | |
| 1000C | 6 5/8 | $311.25 | |
| ATM Z650C 54 1/2 | ATM STRADDLE 95 3/8 | EXPIRES 11/24/24 | |
| MAR ’24 664 | 800C | 32 1/4 | $1612.50 |
| 850C | 24 3/4 | $1237.50 | |
| 900C | 18 3/4 | $937.50 | |
| 1000C | 11 1/4 | $562.50 | |
| 1100C | 8 1/4 | $412.50 | |
| ATM H680C 65 | ATM STRADDLE 122.50 | EXPIRES 2/23/24 | |
| JUL ’24 686 | 900C | 30 1/8 | $1506.25 |
| 1000C | 19 3/4 | $987.50 | |
| 1100C | 13 1/2 | $675 | |
| 1200C | 8 5/8 | $481.25 | |
| 1300C | 7 1/8 | $356.25 | |
| ATM N700C 78 3/8 | ATM STRADDLE 151 | EXPIRES 6/21/24 |
WHEAT PUTS
| MONTH | STRIKE | PRICE | COST |
| DEC ’23 637 | 620P | 26 1/2 | $1325 |
| 600P | 18 1/4 | $912.50 | |
| 550P | 6 1/4 | $312.50 | |
| 500P | 1 3/4 | $87.50 | |
| 450P | 1/2 | $25 | |
| ATM Z650P 40 7/8 | ATM STRADDLE 95 3/8 | EXPIRES 11/24/23 | |
| MAR ’24 664 | 600P | 21 1/8 | $1056.25 |
| 550P | 9 1/8 | $456.25 | |
| 500P | 3 1/4 | $162.50 | |
| 450P | 1 1/8 | $56.25 | |
| 400P | 3/8 | $18.75 | |
| ATM H680P 57 1/2 | ATM STRADDLE 122.50 | EXPIRES 2/23/24 | |
| JUL ’24 686 | 600P | 24 1/2 | $1225 |
| 550P | 11 3/4 | $587.50 | |
| 500P | 5 1/8 | $256.25 | |
| 450P | 2 | $100 | |
| 400P | 5/8 | $31.25 | |
| ATM N700P 72 5/8 | ATM STRADDLE 151 | EXPIRES 6/21/24 |
Bill Allen
Senior Account Executive
Walsh Trading, Inc.
ballen@walshtrading.com
312.957.8079
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Bill Allen
Senior Account Executive
Walsh Trading, Inc.
ballen@walshtrading.com
312.957.8079
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