(If you already have an account, login at the top of the page)
futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.
At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors – all of which you can find on futures io, utilizing our social trading environment.
With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you don’t need to worry about fake reviews.
We are fundamentally different than most other trading sites:
We are here to help. Just let us know what you need.
We work extremely hard to keep things positive in our community.
We do not tolerate rude behavior, trolling, or vendors advertising in posts.
We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
We expect our members to participate and become a part of the community. Help yourself by helping others.
You'll need to register in order to view the content of the threads and start contributing to our community. It's free and simple.
USDA report of today was bearish wheat, as US and global wheat stocks were adjusted higher. The only argument for rising prices is that the report was bullish for corn.
USDA report for me confirms staying in the trade short WZ C650.
Best regards, Myrrdin
The following 2 users say Thank You to myrrdin for this post:
The reason is mainly Supply & Demand. And perhaps fear that the Chinese will reduce their imports. But these imports are significantly smaller than their hog imports.
We might move further downwards on Monday, as the Cattle on Feed Report, published Friday after the close, was bearish the June and August contracts.
In the long run, LCM should move back upwards.
I just sold the LCQ P96. I also hold the LCV-LCM for some time, which is highly profitable and serves as a hedge for the short puts.
Best regards, Myrrdin
Last edited by myrrdin; March 24th, 2018 at 04:12 AM.
The following 2 users say Thank You to myrrdin for this post:
An additional remark: I do not think it is a good idea to hold short option positions, when an important report is published, if you are not an expert in this field. I liquidated my short LCJ C124 some days before the CoF Report to reduce risk.
Best regards, Myrrdin
The following 2 users say Thank You to myrrdin for this post:
Thank you for your input. Anyway, what time frame is it roughly for LCM to move back upwards in long run, in weeks or months? LCM expires in June with OLCM8 options expiring on the 1st day of that month. There is no more trading day in March. It is almost exactly 2 months for OLCM8 to expire.
Yesterday (Thursday), LCM had a drop of $3 which pushes LCM8 to 102.575 just before the end of trading session. Will it move further down to be below 100 in April? Just curious. My OLCM8 P100 position hasn't hit the risk control parameter yet. But I have already start to wonder should I set up a stop order standing there to wait it to happen.
Hard to say when LCM will move upwards again. Cash price is coming down since middle of March, and it has to come down far enough to stimulate consumption.
This is why I hold the LCQ puts. These options move slower as the LCM puts. Furthermore, in my opinion the August contract is undervalued to a higher degree than the June contract. In addition I hold the LCV - LCM future spread as a hedge for the options.
I would consider to roll the LCM puts to the August contract.
I never use a stop order for options. The fill most often is terrible. I usually exit end of day. Watch the volume of futures in the meat markets: Most volume is traded during a few minutes before the close.
Best regards, Myrrdin
The following user says Thank You to myrrdin for this post:
wonder what your thoughts on selling calls in SOYBEANS ? Looks like the report that came out on thursday caused a large spike on soybeans, however looks like the US market will be posting the largest ever production/harvest.
