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Bought back the KCU C200 at approx. 30 % of ist original value. This represents about 1/3 of my coffee position.
I am still optimistic for the rest of the position, but the small remaining value is not worth the risk. Coffee prices might rise in April due to small amounts of coffee available and dryness problems in Vietnam. But the crop in Brazil will be huge, if there are no unforeseen events.
In case coffee price moves up again I intend to sell again some calls.
Placed 5 orders to sell the ESM C2150 at 11 / 12 / 13 / 14 / 15, and got filled at the first lot. The trade to sell the ESM C2150 at 11 was suggested by Carley.
Bought the NGN P2.2, and sold the NGN P2.1 and P2.0 to achieve a conservative long position in Natural Gas. Break even (at the expiry) is below the March low.
Bearish supply outlook for soybeans. Some acres might change to beans.
Sold the SM C920.
I prefer the June contract, which expires on May, 20th, as the situation seems to be quite clear for the next couple of weeks. Weather might change everything in June.
