WALSH PURE SPREADER<\/p>\n
Pure Hedge Division<\/p>\n
RICH MORAN\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a010\/22\/2023<\/p>\n
I mentioned on Friday that as much as I like to look at charts as a resource, I will rarely make or suggest a trade based solely on technical analysis.\u00a0 I always like to combine technical analysis with fundamental analysis.\u00a0 We are still not getting our economic releases with the government shutdown, so today we are still going through our current active trades \u2026.<\/p>\n
If you have any thoughts\/questions on this article or any questions at all in regard to the commodities futures markets, please use this link \u00a0Sign Up Now<\/a><\/p>\n \u00a010\/10\/2025: ZLH26-ZLK26 (MAR-MAY \u201926 Soybean Oil Spread)<\/p>\n Today\u2019s settlement: -0.19, Long at -0.18<\/p>\n On Wednesday (10\/15\/25) I said \u2026.<\/p>\n \u201cToday the spread settled -18, above the 14-day that settled -19 and even with the 21-day (-18).<\/p>\n Last Friday (10\/10\/25) I said, \u201cI think if we can trade and settle above both of these moving averages, we should try to buy this spread with a short stop below the 52-week low of -0.27.\u201d<\/p>\n Today, we did trade above both moving averages.\u00a0 We settled above the 14-day and even with the 21-day.\u00a0 I think when the market re-opens, we should try to buy the ZLH26-ZLK26 spread at -18 (today\u2019s settlement) or better if we open lower.\u00a0 If we are not able to buy it there on the open, leave a resting -0.18 bid.<\/p>\n If and when we get filled, we will define risk\/reward levels, but on the down side, get out at -0.33, six tics below the 52-week low of -0.27.\u00a0 We will look to for a reward of about four times our risk.\u201d<\/p>\n On Thursday, 10\/16\/25, we opened at -0.18 and traded lower, so we are long at -0.18.<\/p>\n Risk 10 ticks (price -0.28) or $60 to make 30 tics (price or +0.12) or $180 plus fees and commissions.<\/p>\n On 10\/16\/25 this spread traded and settled -0.28 so we were stopped out for a loss of $60 per spread.<\/p>\n 10\/3\/2025: ZCZ25-ZOZ25 (DEC Corn-Oats Spread)<\/p>\n Today the spread settled 121, even with the 14-day, but above the 21-day that ended the day at 118\u00bd.\u00a0\u00a0<\/p>\n I think if we can break through this support and trade below, as well as settle below, both of these moving averages, this support could turn into resistance.\u00a0 At that point, it might be a good time to get short the ZCZ25-ZOZ25 spread (sell ZCZ25 and buy ZOZ25).\u00a0<\/p>\n 10\/1\/2025: SBH26-SBK26 (MAR-MAY\u201926 Sugar #11 Spread)<\/p>\n Today\u2019s settlement: .49, Long at .42<\/p>\n On 10\/1\/25 I said \u201cI think it might be a good play to bid today\u2019s settlement (42 cents) or better when the corn market opens.\u201d<\/p>\n \u201cIf we get filled, risk 24 cents or $268.80 Per Spread to make 50 cents or $560 Per Spread plus fees and commissions.<\/p>\n On 10\/2\/25 the market opened at .41, so we are long at .42.<\/p>\n Risk 24 cents (price of .18) or $268.80 Per Spread to make 50 cents (price of .92) or $560.00 Per Spread plus fees and commissions.<\/p>\n 9\/24\/25: KEZ25-ZWZ25 (DEC\u201925 Kansas City-Chicago Wheat Spread)<\/p>\n Today\u2019s settlement: -15\u00bc, Long at -14\u00bd \u00a0<\/p>\n On 9\/24\/25, KEZ25-ZWZ25 settled -12\u00be. \u00a0<\/p>\n I suggested placing an offer to buy KEZ25-ZWZ25 at -14\u00bd on 9\/25\/25.\u00a0 The spread traded -15, so we are long at -14\u00bd.<\/p>\n Risking 8 cents (price of -22\u00bd) or $400 to make 24 cents (price of +9\u00bd) or $1,200 plus fees and commissions.<\/p>\n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 9\/17\/2025: ZWZ25-ZCZ25 (DEC Wheat-Corn Spread)<\/p>\n Today the spread settled 80\u00be, below the 14-day that settled 85 and the 21-day that settled 88.\u00a0\u00a0<\/p>\n If we can get the ZWZ25-ZCZ25 spread to trade and settle above the 14-day and 21-day moving averages, I think getting long this spread with a relatively short stop could be a good play. I believe this might offer us a nice risk to reward trade.\u00a0 We can define our exact risk\/reward levels if we establish a position in the ZWZ25-ZCZ25 spread, but I think we should risk about 15 cents or $750 Per Spread to make about 50 cents or $2,500 Per Spread, plus fees and commissions.\u00a0\u00a0\u00a0<\/p>\n \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a09\/10\/25: ZCZ25-ZCH26 (DEC-MAR Corn Spread)<\/p>\n \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Today\u2019s settlement: -12\u00be, Long at -17\u00bd \u00a0<\/p>\n On Wednesday (9\/10\/25) I suggested that if the ZCZ25-ZCH26 opens at -17\u00bd (Wednesday\u2019s settlement) or higher, trying to get long the spread (buying Dec25-Corn versus selling Mar\u201926-Corn) at -17\u00bd.\u00a0 \u00a0<\/p>\n The spread opened at -17\u00bd and traded lower, so we are long at -17\u00bd. \u00a0<\/p>\n We were risking 2 cents (price of -19\u00bd) or $100 Per Spread to make 6 cents (price of -11\u00bd) or $300 Per Spread, plus fees and commissions.<\/p>\n On Friday (10\/17) I raised our stop to -17\u00bd for a scratch.\u00a0 I hate to turn a winner into a loser.\u00a0 \u00a0<\/p>\n Today we are raising our stop another 2 cents to -15\u00bd for a 2 cents winner. \u00a0This was our original risk on this trade.<\/p>\n So now we are looking to make 2 cents ($100 Per Spread) at -15\u00bd or to make 6 cents ($300 Per Spread) at -11\u00bd, plus fees and commissions.<\/p>\n 8\/27\/25: ZSF26-ZSN26 (JAN-JULY\u201926 Soybean Spread)<\/p>\n Today\u2019s Settlement: -36, Long at -40\u00bc \u00a0<\/p>\n On Friday (10\/3\/25) I said, \u201cyesterday (10\/2\/25) this spread, ZSF26-ZSN26 (JAN-JULY\u201926 Soybean Spread), settled above both the 14-day and the 21-day moving averages at -39.\u00a0 I suggest buying the spread at -39 or better when the Soybean market opens.\u00a0 If you do not get filled on the opening, work a -39 bid.\u201d<\/p>\n On Monday (10\/3\/25) the spread opened at -40\u00bd, so we are long at -40\u00bc. \u00a0<\/p>\n I said to risk 4 cents (price of -44\u00bc) or $200 to make 12 cents (price of -28\u00bc) or $600 Per Spread, plus fees and commissions.<\/p>\n We are only risking 4 cents on this trade and we have a 4\u00bc cent lead on the trade so we are raising our stop to -40\u00bc for a scratch.\u00a0 I hate to turn a winner into a loser.<\/p>\n Now we are risking a scratch at -40\u00bc to make 12 cents ($600) at -28\u00bc, plus fees and commissions.<\/p>\n \u00a0<\/p>\n 8\/6\/25: ZSX25-ZSF26 (NOV-JAN Soybean Spread)<\/p>\n Today\u2019s Settlement: -15\u00bc, Long at -17\u00bd \u00a0\u00a0<\/p>\n The spread settled above the 14-day and the 21-day at -17\u00be on 8\/21\/25.\u00a0 You should be long at -17\u00bd from the open on 8\/22\/25.<\/p>\n Risking 3\u00bd cents (price of -21) or $175 to make 9 \u00bd cents (price of -8) or $475 Per Spread, plus fees and commissions.<\/p>\n 7\/23\/25:\u00a0ZWZ25-ZWH26 (DEC\u201925-MAR\u201926 Wheat Spread)<\/p>\n Today\u2019s Settlement: -15\u00be, Long at -18\u00bd<\/p>\n Risking 3\u00bd cents (price of -22) or $175 Per Spread to make 10 cents (price of -8\u00bd) or $500 Per Spread, plus fees and commissions.<\/p>\n If you have any thoughts\/questions on this article or any questions at all in regard to the commodities futures markets, please use this link \u00a0Sign Up Now<\/a><\/p>\n Rich Moran<\/p>\n Senior Commodities Broker<\/p>\n RMoran@walshtrading.<\/a>com<\/p>\n Direct: (312)985-0298<\/p>\n Cell: (773)502-5321<\/p>\n Walsh Trading, Inc. is registered as a Guaranteed Introducing Broker with the Commodity Futures Trading Commission and an NFA Member. 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For more information please view the Barchart Disclosure Policy here<\/a>. <\/p>\n","protected":false},"excerpt":{"rendered":"WALSH PURE SPREADER Pure Hedge Division RICH MORAN\u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0…\n","protected":false},"author":2,"featured_media":97844,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[72,61,60,123,44940],"class_list":["post-97843","post","type-post","status-publish","format-standard","has-post-thumbnail","category-markets","tag-business","tag-ie","tag-ireland","tag-markets","tag-n-a"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/97843","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=97843"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/97843\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/97844"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=97843"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=97843"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=97843"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
Futures and options trading involves substantial risk and is not suitable for all investors. Therefore, individuals should carefully consider their financial condition in deciding whether to trade. Option traders should be aware that the exercise of a long option will result in a futures position. The valuation of futures and options may fluctuate, and as a result, clients may lose more than their original investment. The information contained on this site is the opinion of the writer or was obtained from sources cited within the commentary. The impact on market prices due to seasonal or market cycles and current news events may already be reflected in market prices.\u00a0PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS.\u00a0 All information, communications, publications, and reports, including this specific material, used and distributed by Walsh Trading, Inc. (\u201cWTI\u201d) shall be construed as a solicitation for entering into a derivatives transaction. WTI does not distribute research reports, employ research analysts, or maintain a research department as defined in CFTC Regulation 1.71.<\/p>\n