The 370 level should be support on the way back down on setbacks. Let's see if another range can build up here with 8 or 9 days which can set up a rally to even higher levels.
Tim 8:53AM EST 10/30/2014
Calls Trade In DBA - Opening Call Buying
Shares of PowerShares DB Agriculture (DBA) are up .03 to 25.90. DBA is near the middle of the 52 week range.
Today paper traded 752 DBA Jan 26 calls for .75. The ADV is 581 contracts. The OI is 1657 contracts.
Volume went up in one block. The trade on the strike is 16092 contacts with paper paying .75 for thousands of calls in small to midsize blocks. The customers are looking for a big jump in commodity prices into the end of the year. This is a possible newsletter trade.
The Options Insider last profiled DBA on Feb 2nd stating:
“Today paper traded 1500 Mar 24 calls in DBA for 1.05-1.10. ADV is 264 contracts. The OI is over 5 for each strike. The volume went up in mid-size blocks with some paper trading through the offer at the time. The opening trades look to be bullish with the IV up .78 in March which is a good sized move for a 7.8% realized volatility product.”