For anyone looking for a short term trade I am looking at corn. The September call options expire on August 21. Tomorrow
will see the monthly crop production report at 11:00 am central time. September futures had fallen to 3.07 ¼ and have
rebounded to $3.15 this morning and have pulled back to $3.13. We can purchase the 320 call options for 2.2 cents or
$112.50. There is a gap at $3.36 left from July 10 and if the number is even slightly bullish we could see a pop higher in this very oversold market.
The Trade: Buy the Sept. 320 corn call for 2.2 cents
Protection: Risk the Premium of $112.50 for now
Objective: I will advise but looking for 3.36 in futures which equates to at least 16.0 cents for the option