Marc Nemenoff
PRICE Futures Group
Financials: June Bonds are currently 11 lower at 133’10 and the 10 Yr. Note 7 lower at 123’26. We remain spread long 10 Yr. Notes/short Bonds which is currently trading at 9’16 premium the Bonds, about 1’00 against us. We continue to hold short biased positions in Eurodollars. I recommend covering March 2015 short positions should they trade below the 99.545 level.
Grains: May Corn is currently unchanged at 507’0 and Dec. 3’4 lower at 509’4. May Beans are currently 12’0 higher at 1494’4 and Nov. 4’0 higher at 1221’4. May Wheat 5’0 higher at 686’0. We remain spread long new crop/short old crop in Corn and Beans. Supply/Demand and Crop Production Report at 11:00am this morning.
Cattle: June LC is currently 10 higher at 135.37 and May FC 27 higher at 179.15. We have taken profits on short June LC positions and long out of the money June Hog put option positions. We remain long May FC 168.00 puts which are at a loss and worth about 30 points.
Silver: May Silver is currently 40 cents lower at 19.65 and June Gold 6.00 dollars lower at 1303.00. We remain long a small position in Silver. As for Gold, I’m long term friendly but given the action in the metals of late a bit hesitant to risk too much on the long side. Just to have some “skin in the game” I’m going long the june Gold 1400 call and the August Gold 1500 call each of which are trading in the $400.00 area.
S&P's: June S&P’s are currently 5.00 higher at 1850.00. We have covered the combination of short futures and short the May 1840 puts. If you decided to stay with this position accelerated premium decay is about 3 weeks away for May contracts. For the near term treat as a trading affair between 1835-1855.00. 1st Quarter Earning Season is upon us.
Currencies: As of this writing the June Euro is currently 2 higher at 1.3795, the Swiss 8 higher at 1.1336, the Yen 36 lower at 0.9806 and the Pound 9 higher at 1.6748. We continue to hold short biased position in the Euro. We continue to trade the Pound frm the short side on rallies for short term trades.
Futures and options trading involves substantial risk of loss and may not be suitable for everyone. The valuation of futures and options may fluctuate and as a result, clients may lose more than their original investment. In no event should the content of this website be construed as an express or implied promise, guarantee, or implication by or from The Price Futures Group, Inc. that you will profit or that losses can or will be limited whatsoever. Past performance is not indicative of future results. Information provided on this website is intended solely for informative purpose and is obtained from sources believed to be reliable. No guarantee of any kind is implied or possible where projections of future conditions are attempted.
Recommended Content
Editors’ Picks
USD/JPY crashes nearly 450 pips to 155.50 on likely Japanese intervention
Having briefly recaptured 160.00, USD/JPY came under intense selling to test 155.00 on what seems like a Japanese FX intervention underway. The Yen tumbled in early trades amid news that Japan's PM lost 3 key seats in the by-election. Holiday-thinned trading exaggerates the USD/JPY price action.
AUD/USD rallies toward 0.6600 on risk flows, hawkish RBA expectations
AUD/USD extends gains toward 0.6600 in the Asian session on Monday. The Aussie pair is underpinned by increased bets of an RBA rate hike at its May policy meeting after the previous week's hot Australian CPI data. Risk flows also power the pair's upside.
Gold tests critical daily support line, will it defend?
Gold price is seeing a negative start to a new week on Monday, having booked a weekly loss. Gold price bears the brunt of resurgent US Dollar (USD) demand and a risk-on market mood amid Japanese holiday-thinned market conditions.
XRP plunges to $0.50, wipes out recent gains as Ripple community debates ETHgate impact
Ripple loses all gains from the past seven days, trading at $0.50 early on Monday. XRP holders have their eyes peeled for the Securities and Exchange Commission filing of opposition brief to Ripple’s motion to strike expert testimony.
Week ahead: Hawkish risk as Fed and NFP on tap, Eurozone data eyed too
Fed meets on Wednesday as US inflation stays elevated. Will Friday’s jobs report bring relief or more angst for the markets? Eurozone flash GDP and CPI numbers in focus for the Euro.