Looking to Strangle the Soybeans
By: Hector GalvanOctober 28th, 2011 10:50AM CDT
Soybeans have been a difficult market to gauge recently. However, with the USDA supply and demand report coming up on the 9th of November I still believe that we are looking to trade sideways for the next several weeks. Looking at the chart this morning I’m strongly considering the January 1050-1450 soybean strangle. If I can take in eight cents or $400 for each strangle, I believe the risk will pay off. The options expire on the 23rd of December.
DTN
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Hector Galvan
Senior Commodities Broker
After earning a bachelor's degree from the University of Illinois at Urbana-Champaign, Hector was encouraged by a relative at the Chicago Board of Trade to get involved in futures. Prior to RJO Futures, he was a broker at Lind-Waldock from 2002-2004. He is experienced in short-, medium- and long-term chart analysis, and uses his knowledge in moving averages, oscillators, market sentiments, money management, and pivot profits to assist clients. His advisory background includes Hightower, Helms, G.... Read More
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