Coffee Traders' Forum - A Discussion about Coffee Futures Trading
Coffee Traders Discussion Forum
Good buying was present at the opening and it continued for a short spell afterwards to set the high for the morning. The market has been subdued both in range and in volume. Today April options expire. I for one am long Apr puts and am looking to buy below 120.00. The trader who is short puts has the burden of deciding when and if to sell but likely the put shorts will dump futures well below 120.00 and at a time near the close. Possibly also they will remain long the futures should the market settles below 120.00. The depth of market is equally balanced with good size on both sides. RC is keeping pace for the most part with the arb at 40.37. The market continues to be in the doldrums with continued failed dips and rallies. The persistence of the selling is puzzling especially with the magnitude of buying present. Possibly it is related to option expiration but the condition of the market has been such for quite some time. Possibly today may bring some end of the week activity or maybe we will get a clearer picture on Monday with expiration not being a distraction. USDBRL is 3.2683 +.0019 and the COP is unchanged at 2875.00. Currencies are mixed but two of the bigger ones, the € and the ¥, are down making the $ index slightly higher. Bond futures are quiet and a shade lower. Metals are about unchanged as are equities. Crude is higher while the softs are unchanged to slightly higher.