Wheat hit our first upside target today a lot sooner than we expected. We suggested buying bull call spreads for $750 (or less) 2 weeks ago. Last week we suggested taking some of our cash off the table. With the market advancing to our first objective, let’s go ahead and ring the rest of these bull spreads up now, looking to re-enter using different strike prices on a pullback.
RMB trading customers should contact their broker directly for further specifics on this trade. If you are not an RMB Trading Customer and want to know more about how we are playing this or other market, contact us or give us a call at 800-345-7026 (toll free) or 312-373-4970 (direct) and we’d be happy to go over a fixed risk strategy with you. You can also e-mail suertusen@rmbgroup.com. Put “wheat” in the subject line.