Elgrey's  Instablog

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Expat finance professional living and working in Hong Kong.
  • My May-14 (And A Bit Further) Strategy Review 0 comments
    Jun 12, 2014 12:31 AM

    OK, let's review the May.

    Soybeans - I held my short stance during May and early June, added puts transforming bearish position into a strange and received double inflows. I closed position right before WASDE report to avoid any fluctuations.

    Cotton - some time along May I reconsidered and opened short position which was the right move. Basically I recalled history when markets heat up in May - starting from May Cotton prices decrease. I was right.

    Coffee - no unexpected events.

    Cocoa - here I was wrong. Markets shoot up. Nevermind, this only deteriorated value on my put leg of the strangle and I booked profit buying back options at deep discount.

    Heating Oil - I was right, prices declined.

    Gasoline - I quit position for now, booked profit and sit on the sides.

    Natural Gas - I was short but most of the market was long. However this strength ended and prices are heading south. I expect further weakness and increased my short position.

    Soy Oil - I am shorting it and I have been right for now.

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