With a recent losing streak hitting some of our Mock trades; I am deciding to lift a profitable short position that I have on in MPLS Wheat; I am short and will lock in some profits.
Technically to me it appears that maybe the 8.00 level will hold as support; so on my scale MPLS trade I am going to get out of the 8.38 short for a little over 22 cents profit.
On the line of support holding I am going to place a buy order in at 8.15 for 1 contract, 2 at 8.10, and 3 at 8.05; with a risk to 7.95.
I will leave in my sell orders at 8.45 for 2 contracts and 8.55 for 4 with a risk of 8.63
Another update with the options expiring last week we did see Jordan pick up a short Dec corn position. He owned both the 6.40 call and put for about 50 cents; so net he is now short 1 at 5.90
It does look like Dan locked in another winner as he had a short MPLS position that he saw his objective hit so he locked in about 800 profit on that trade.
Technically to me it appears that maybe the 8.00 level will hold as support; so on my scale MPLS trade I am going to get out of the 8.38 short for a little over 22 cents profit.
On the line of support holding I am going to place a buy order in at 8.15 for 1 contract, 2 at 8.10, and 3 at 8.05; with a risk to 7.95.
I will leave in my sell orders at 8.45 for 2 contracts and 8.55 for 4 with a risk of 8.63
Another update with the options expiring last week we did see Jordan pick up a short Dec corn position. He owned both the 6.40 call and put for about 50 cents; so net he is now short 1 at 5.90
It does look like Dan locked in another winner as he had a short MPLS position that he saw his objective hit so he locked in about 800 profit on that trade.
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