11/04/24 Manic Monday

I can’t wait to get this election over so we can stop reporting on it. We do have this week of risk to manage whether that risk is corn, beans, cattle, hogs or even the equities. As we reported yesterday the funds covered shorts in the corn, added longs to cattle and hogs but we net sellers in the bean complex. I would venture to guess that almost everybody that reads this report has bought a put option at some point with varying degrees of success. With the increased risk of this week’s elections we do have short-dated puts or even weekly puts that would cover you for whatever amount of time that you decide. Personally, I feel that the S&P looks the most vulnerable to any surprise on Tuesday night and we have fielded many calls about buying weekly put options in the last two weeks. The weekly options, while short in time, can be rolled out at a later date in time if they end up being needed.