I am still in my December Corn trade with the December 320 put option even though my option premium is down 3 cents or $150. I had said that I would get out of this position is prices closed above 360, which they did yesterday. However, Corn prices today were showing a great deal of weakness. December Corn closed today at 362 which was down 2.2 cents from yesterday's close, but was actually 10 cents lower than the high of the day which was 372. Corn's closing a the bottom of its trading range today and closing so far below its high of today suggests more weakness could be in this market to lower prices further. So, for now, I'm going to see if I can stay in this trade a little while longer and see if Corn indeed does go down further. I'll look at a move above today's high of 372 as a signal to exit this trade.
For a look at all of my completed trades, please go to www.mylearn2trade.com
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