date:Jul 07, 2014
es, potentially to below the $10.00 level.
Options market traders seem to be bracing for such a development, with put open interest at the $10 November strike up more than 10,000 contracts or 44 percent since just before the USDA crop and acreage release. The price of those options has roughly trebled since pre-report levels, and appears to be well supported above the 9 cents a bushels level after having traded for most of June below the 6 cents mark. Additional purchasing of such bearishly po