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i think i remember 20 cents in corn 50 in beans and 30 in wheat but I could be off.

I'll have to look it up but i believe if a certain number of options trade limit up the limit is expanded to 45 cents in corn. This is part of the increase in margin requirements as the limits expand.

It could have traded on a spread at a price more than the limit. attached is the deep ITM on corn. I don't see one more than the limit. I could be wrong so if I am apologies. But i do believe the options have the same price limit as the futures on the grains.

your clerverness always impresses me

I don't do them 1:1 or it would be a synthetic call. I like the potential to make money either way on the move. We just as well could have been limit down plus another 40 in the synthetics. Having the full option vs the 4 minis gives profit potential on a large move down as well. I was...

How can you use deep ITM calls when the options have price limits as well? Wouldn't you have to use options that aren't locked to do the synthetics? Anyway I don't want to brag because I can't after almost blowing out a couple months ago in the wheat run up but I have been playing with...

I've been long call spreads starting at WU 440 Usually set up a 40 cent spread. I roll when it touches my short strike to another 40 cent ATM call spread. This has been a very nice rally in wheat. I'm now long the CU 620-650 call spread. Time to roll again. But you can't resist shorting a...

@ Atticus Thanks for the reply and for answering the question. I'm curious as I see these set ups in grains currently. Is this a seasonal appearance only due to the usual summer grain run and the added weather risk this year. I don't see the same set ups when I look at the softs? The ITM...

The one I'm in now SU 900-920 I entered at 13 1/2 about a week ago when SU was around 985. So they hit the bid. On this one I'm risking 13 1/2 to make 6 1/2 give up 1/2 to close it. I imagine a pit trader would hit it because they could turn around and sell the 920-900 put spread and...

I've been giving some thoughts lately to playing theta by buying ITM call spreads and put spreads instead of selling OTM spreads. For example with say 40 days to go you can buy a call spread in say sep beans like the 900-920 for 16 1/2 or so. As long as beans are above 920 at option...

Don't forget to catch all the excitement in the lumber pit.

I was able to get into the observation deck two summers ago. I called about a week in advance and explained that I actively traded the CBOT grains contracts and would be in Chicago that week and would love to see the floor. They kindly explained that usually it was only for educational groups...

Here is an active link to sign up. I hope: http://spreadsheets.google.com/viewform?hl=en&formkey=dHJmdTJ0b0twSlViYmlZVG5ZbXFhX2c6MQ#gid=0

One of the days of the unit we use the corny CME lumber trading simulator. I like the idea though of asking some brokers to donate the simulators. Next year we will have a 1:1 laptop environment so it would be pretty simple to provide all the kids access. Do you have any connections at...

You're probably right I'll have to dig through the book again. Although I thought he had another corner in addition to cotton.

I believe Jesse Livermore cornered the coffee market during WWI. The government responded by suspending coffee trading and giving rationing as the reason.

One aspect that has been somewhat rewarding is to see seniors who went through in the fall try to negotiate with their other teachers to come back and help in the spring semester. I hope it is because they loved the learning not because trading stimulates the same part of the brain that crack...

I thought multiple delivery points was the solution. Or maybe rolling all the wheat contracts into one.

Oh yeah also if any of you still have floor connections and a way to get us some cheap or old trading jackets that would be appreciated. New Edge was kind enough to send us some a couple years ago but we always need more.

I hope the one didn't eat the other.