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Contracts for meats trade more or less independently from each other The reason is that it is difficult and expensive to store meat.
Gold can be stored easily and cheaply, and thus prices for contracts with more DTE move similarly than the nearer contracts.
Once per month (Cattle on Feed Report) or once per quarter (quartlery hogs report) there are important reports for these commodities, which influence the trade for a longer period. These reports can cause severe price moves.
Short-Dated New Crop Options
Take advantage of hedging flexibility with Short-Dated New Crop options on Corn, Soybeans, Soybean Meal and Oil, and Wheat futures.
Lower premiums than standard new crop options due to reduced time value
Cost-effective way to take a position in new crop futures contracts
Hedge a lower cost “window” version of traditional minimum price contracts
Precision timing to trade high impact events on new crop markets, such as USDA reports
Manage risk during specific windows of the growing season at reduced costs
Yes, I am talking about short-dated new crop options. CZ and SX are considered as new crop futures. The "normal" CZ and SX options expire in November (CZ) or October (SX). The short-dated new crop options are also related to the CZ or SX futures. They expire in June, July etc. depending on the option.
Are u thinking of selling puts on beans ending July or August for a summer weather rally?? Based on Nov contract? Leave the call side open and the sell calls if there is a big rise
No, currently I am not interested in selling options on beans.
This might change, if bean prices move upwards strongly within the next couple of weeks according to seasonals. In this case I intend to sell calls for the SX far above the market.
If weather cooperates SX price could move far below 900 within a very short period of time. Have a look at the chart for 2014 (and others). Thus, I will not sell puts.
Similar for corn. In my opinion downside potential for corn is not as big as for beans, as some damage has been made. But if bean price moves severely below 9, corn might follow.
This is my experience for the commodities I usually trade: Grains & Beans, Meats, Softs. Energies. My experience in trading Indices, Currencies, and Metals is limited.