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Took profit for the LCQ P110 at approx. 70 % of the original value, and "rolled" it into the LCM P126.
Why the LCM instead of the LCQ, although I am a little bit more bullish the LCQ ? After the recent Cattle on Feed-Report the uncertainties for the June contract regarding cattle on feed more or less vanished.
There is a lot of wheat around the world. Sales from the US are modest at best. Seasonals show the way southwards until end of June in the 5-, 15-, and 30-years pattern.
Wednesday there is the USDA S&D report. I do not expect a bullish surprize for wheat, but traders should be careful going into this report with a large lot of short options.
I do not expect a price of more than $5.25 for July wheat, unless there is a severe (!) weather problem. This is the price region where I place my (mental) stop.
Bought back the NGM C1.6 with a profit of approx. 35 %. Nice trade - closed within two days.
Natural Gas Price can show severe moves on Sunday's opening in case the weather forecast changes during the weekend. And These moves can go againsst you.
Bought back the KCM C150 and KCN C155 at a loss of approx. 50 % and 80 %, respectively. Price of the KCN Futures closed above the stop loss, the high of early February.
On the one hand, short time coffee supply is limited, on the other hand there will probably be a huge coffee crop in Brazil in July.
I intend to sell further coffee calls at a higher price Level.