There was a lot of chatter this week about where December corn would close on this the expiration day of options (puts and calls). There always are expiring options, but this time it appears there were a record amount -- somewhere between 750,000 and 775,000 contracts. The theory is that on options expiration day futures will gravitate to the point where the buyer will lose the most and the seller will make the most.
I happened to have sold $3.80 December calls on August 11 for about 12 cents against some of my production. That was when futures were at ...
