May 24, 2024

The idea is to get a call spread in place to use as a "courage call" so we can sell if/when we get a rally and feel the need to sell, we still have upside in place.
If the market goes higher, we can sell and use the call option for upside.
Calls can be rolled up to take some profit as well.

Selling a call in an area you think would be a great place to sell fall grain today
Selling the call has risk, make sure you understand that risk.
We can help mitigate the some of the risk by keeping the long short dated call in place
I included July SD calls as they are cheaper and might be an option if you didn't want to sell the full Nov or Dec call option.
Please call Mike, Allen or Peter with any questions.

Corn
Buy a SD July $5.30 call - 9 1/2 cents
Buy a SD August $5.30 call - 19 cents
Sell a Dec $6.00 call - 14 cents

4 1/2 cent credit with July
5 cent cost with August

Soybeans
Buy a SD July $12.30 call - 9 cents
Buy a SD August $12.30 call - 22 cents
Sell a Nov $13.60 call - 12 5/8

3 5/8 cent credit with July
11 3/8 cost with August

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