The market had a decent recovery today moving dramatically off daily lows with good fund buying into the close seen as the reason. There is nothing fundamentally to look at so we have to focus on moneyflow, OI and macros. I feel this marketplace is due for a recovery, especially beans with this pit offering the best chance of recovery. There is talk that traders are looking to buy OTM strangles heading into the weekend due to a very flat volatility skew both up and down. I like the idea but this is for traders that use and understand volatility. It is a bit tricky playing volatility outright making this a game for the “bigboys” moneywise. Individual investors can look at buying upside calls in beans with call spreads no longer advised due to extremely low volatility.
MPI
