What will you be watching this week/strategies

[cottonpicken]

Over 80% of options expire worthless.

[cottonpicken]

Critical level in the oil market,were breaking below our old,old high-which i never ever thought would happen.

[Choice2U]

Hi Rook,

Your handle is my level of experience with calls/puts so keep this in mind. I trade with Union Securities (Keith), 204-982-0629. I set up an account, sent them a cheque for $2K to start. They only cashed it when I bought. Phone call is all it takes after that. Cottonpicken confirmed why I am not sure how good these things will work in a relatively flat market with his comment that 80% of options expire. Right now I've made $8,700 net on two puts (size - 100 Mt each time) and have a $2,500 call option which will probably expire worthless so I'll be up $6,200 unless I do something stupid which still has potential. Tom...I did in fact exercise the last $420 put option to offset a $365 futures bid so I didn't have to sell the put. Liquidity is a problem if you go out too far. I had a little under 10K bu of canola and this has been a way to sell product before the snow, have the possibility to make extra $ (up or down) on this delivered product. I am thinking of buying a $10 call option for July (if there is a taker) and wait this thing out. If the market is near it's bottom and moves up significanlty over the next 5 months, this thing should be worth something. If not, I know my last booboo only cost me $10/Mt. Obviously holding (storage risk) and/or selling the physical product has huge major risks in this volatile market as well. It sure helps to make some good coin the first trade so after that one is risking a profit rather than losing your intial investment plus.