new Trade for Jerermey
After getting stopped out of my scale wheat trade last week; I decided to try another scale type trade. This time on corn; as my chart I posted on Friday I thought looked like a selling opportunity. Plus I think that this year's harvest still hasn't seen the producer selling that I think happens at the tail end of harvest.
My new trade is off of Dec corn; it is also a scale trade.
Sell 1 at 6.43
Sell 1 at 6.47
Sell 2 at 6.50
Sell 3 at 6.55
Sell 5 at 6.60
Sell 8 at 6.70
Risk to 7.00
Objective of 5.85; with plans of moving stop up if I can lock in a winner or adding option leg to protect profits.
To add a little complexity I am also selling 2 of the 6.00 puts for 12 cents a piece.
Which turn into covered puts if I get my first couple of orders filled.
My new trade is off of Dec corn; it is also a scale trade.
Sell 1 at 6.43
Sell 1 at 6.47
Sell 2 at 6.50
Sell 3 at 6.55
Sell 5 at 6.60
Sell 8 at 6.70
Risk to 7.00
Objective of 5.85; with plans of moving stop up if I can lock in a winner or adding option leg to protect profits.
To add a little complexity I am also selling 2 of the 6.00 puts for 12 cents a piece.
Which turn into covered puts if I get my first couple of orders filled.