11/13/2013 WED

Soybean Futures      ZS  close on  11/12/2013  1314.50

The Soybean Futures seem to have broken through the initial resistance area at 1300 and are sitting just at the next resistance area of 1316.50. Above here look for the soybean futures to rally up into the 1350 area and with a little bit of help from the short covering could see the the Jan futures set to test the 1400 level

Resistance         1327/1331*    1344.50/13246/1352***   1380/1410****

Support             1300*        1380**    1360*    1351***

Open Int. (est.)   Strike      January   (44)

     1340              7455

     1350              2380

     1360              5600

     1370                386

     1380              4830

     1390                400

     1400              5870

     1410                277

     1420              4715

     1430                  45

IV 15.40%

Look at Buying the 1350/1380/1410 January Call Butterfly for 2.50 or better which represents a risk of only $125 per spread while offering a potential gain of $1375  over the next 44 days

to read more on Butterfly spreads review previous posts here or see the full three part article published on tradersexclusive.com

*Disclaimer: This is not a recommendation. All trading entails risk. Anyone employing any strategies and having limited knowledge of options trading should consult with a FINRA licensed professional.