Thursday saw some liquidation of deep in the money calls by Mexico with the previous purchases (above mentioned in export sales) being delivered to the consumers. This was a great play on both sides for that plan once again – kudos. With option expiration on next Friday there is plenty to look at across the board with corn OI in Nov actually outpacing bean OI in the same month. This is odd to say the least. The CX 540c has 12K open with the 560p holding 14K. In beans the feature is the 1200c with 12K open. Concerning Vol, CH is at 36.5% heading into the trade today with a downside target at 33%. The CH 580-680 call spread is currently showing a 5.5% skew with this much more attractive at 7-8%.