So I exited one bean-meal spread (still holding one).
Bought 1 Nov soybeans at 1180.5
Sold 1 Dec soybean meal at 313.30
I made about $3K on this trade, but I really hope the 2nd leg would meet my objective, which should give me $10K or so. It's a shame that I couldn't hold on to a bit longer for what I just exited, but I went thru quite a bit of drawdowns and I do a lot better when I book some profits.
As you see the screenshot above, the spread trading is where you buy and sell two different contract simultaneously and expect the difference becomes bigger and smaller. I am losing (the shot was taken before I booked my profit), $19K on the soymeal, but making $39.6K on the beans.
By the way, lumber is not doing anything. It may take a while.
I'm also watching natural gas to see if it drops to 7 area where I'll start selling 6 puts.
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