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Author: Vol Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 162  
Subject: Re: Shorting corn scale Date: 9/5/2008 5:44 PM
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Contract	Date/Time	No.	Price	Close	Amount	     FIFO	unrealzd	O/C
XCZ8 2008-08-20, 12:28:52 -1 5.8775 5.95 -5,877.50 0 -72.5 O
XCZ8 2008-08-21, 10:30:00 -1 6.0325 6.175 -6,032.50 0 -142.5 O
XCZ8 2008-08-21, 10:30:00 -1 6.0325 6.175 -6,032.50 0 -142.5 O
XCZ8 2008-08-21, 11:17:18 -1 6.19125 6.175 -6,191.25 0 16.25 O
XCZ8 2008-08-25, 13:20:51 1 6 6 6,000.00 -127.3 0 C
XCZ8 2008-08-26, 06:29:43 1 5.85 5.94 5,850.00 177.7 90 C
XCZ8 2008-08-26, 20:46:58 -1 6 5.96 -6,000.00 0 40 O
XCZ8 2008-08-28, 10:39:00 1 5.85 5.8775 5,850.00 177.7 27.5 C
XCZ8 2008-09-01, 19:28:10 1 5.7 5.6925 5,700.00 486.45 -7.5 C
XCZ8 2008-09-02, 06:15:33 1 5.55 5.6925 5,550.00 445.2 142.5 C
XCZ8 2008-09-02, 13:19:31 -1 5.7 5.6925 -5,700.00 0 7.5 O
XCZ8 2008-09-03, 10:48:59 1 5.55 5.6225 5,550.00 145.2 72.5 C
XCZ8 2008-09-04, 10:48:42 -1 5.7 5.645 -5,700.00 0 55 O
Total 1,304.95 86.25

[Posting tables on TMF is near impossible sometimes]
Last couple of weeks were very good for shorting corn scale starting at 5.70. Last contract bought back today at 5.55. Above profit is about right at $1305, although is FIFO. Scaling is best account as FILO.

So after todays last scale that is profits of $1400. I usually earmark 1/3 to 1/2 or margin required which would be btw 12k and 20k. Purchased a cheap 900 Dec call on the regular contract which would cover 5 mini contracts. Still holding this in case I reenter the scale. $125 Cost of protective call covered by a 600 Dec08 straddle that I sold for $4800. Also purchased another 900 Dec call for $125 and 350 Dec put for $125. Essentially a 350/600/900 assymm butterfly which funded the protective call.

1.4K profit on 12k or 20k is 11.7% or 7%. Will reenter short corn scale at 5.70 or begin long corn scale at 5.40. Long corn scale scheme to follow.
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