Current Commodity Futures Positions – 7/20/08

Current Commodity Futures Positions – 7/20/08

Keeping the faith here – strategy has been right generally on these trades, just poor timing. Ah well, it happens. I am re-evaluating my entries, as they have not been serving me well over the past few months.

Tried the short side of the grains market with the short on mini-corn, and that worked out well. However not enough to counter the bearish move in sugar. It looks overdone, and I hate to sell sugar at 12 cents – I mean, we’re below the cost of production here.

Also keeping an eye on the meats. Looks like live cattle may be forming some sort of base here – we’ll see.

Open Positions
Date Position Qty Month/Yr Contract Strike Call/Put Entry Price Last Price Profit/Loss
06/17/08 Long 1 DEC 08 Cotton 82.20 72.83 ($4,685.00)
06/18/08 Long 1 OCT 08 Sugar #11 12.88 12.34 ($604.80)
07/01/08 Long 1 OCT 08 Sugar #11 13.90 12.34 ($1,747.20)
07/14/08 Short 1 DEC 08 Mini Corn 688 611 $770.00
Net Profit/Loss On Open Positions: ($6,267.00)

Account Balances
Current Cash Balance $83,288.02
Open Trade Equity ($6,267.00)
Total Equity $77,021.02
Long Option Value $0.00
Short Option Value $0.00
Net Liquidating Value $77,021.02

Cashed out: $15,000.00
Total value: $92,021.02

Weekly return: -5.3%
YTD return: 16.8%

***BTW, I usually “cash out” money just to pay for taxes, rent, and cheap beer. So total value is all pre-tax.