I bought the 1 Oct 515/500 put spread for 7.625. The best I can do is double my money...I spent 381.25 to put the trade on. The options trade in a multiple of 50.
I will keep you guys posted.
Friday, September 17, 2010
Due to research I think I want to get short Corn
So one of the new functions that I will be taking over in the new job will be procuring our internal ethanol needs. In talking with brokers and researching a bit on the ethanol industry I have started to watch corn. It has rallied pretty hard since July. The RSI on this thing is off the charts riding at like over 85. I am taking a defined risk/reward contrain play here by buying the 515/500 put spread.
I bought the 1 Oct 515/500 put spread for 7.625. The best I can do is double my money...I spent 381.25 to put the trade on. The options trade in a multiple of 50.
I will keep you guys posted.
I bought the 1 Oct 515/500 put spread for 7.625. The best I can do is double my money...I spent 381.25 to put the trade on. The options trade in a multiple of 50.
I will keep you guys posted.
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