Masteroftheuniverse’s Weblog

While the markets are weathering a massive head wind, the sails are fully extended, and things are going to go one way or another very quickly.  I put on some combinations of options to take advantage of these erratic conditions. It took the better part of the day to leg into the strategy I stayed up all night hammering out.  Either way, the worst I will do is lose, and I’ve done that before.  However, I have a good feeling about my positions and strategy.   So far, the day ended up in black ink, even losing a ton in the long S&P futures contract which was offset by the increase in the options prices.  I am really pleased with my hedged long position, despite the fact that I might profit little.  The strategy is very sound, and has lends some elegance to an otherwise boring, losing trade.

The grain markets have been very interesting, with many opportunities presenting themselves. My spreads held up very nicely today. I expect to see many trading opportunities in the summer as the grain crop progresses all the way through harvest time.  It might become a weather market, or stay a hedge fund-dollar driven market.  Whatever, one will see some excitement in the grains this summer.

I’m waiting for my art to show up….It was supposed to show up today, but will end up getting here tomorrow.  I posted some pictures off the Sotheby’s site to give a hint of what they are.  I will post a full size of both drawings as soon as they arrive.  

I’m headed over to Pelican Alley with John for some grub and strong drink.  Perhaps, we might go on a little night surfing sufari after dark…..maybe not.  It depends.

Jeff

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