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With #UkraineWar in focus, lots of #futures traders talking about Wheat. This has certainly impacted #ZW_F. We’ve seen a number of limit up days and the composite profile is thin. Here’s a way I’m playing Wheat….
I sold the May 980/990/1485/1495 Iron Condor for 4.25/cents per spread. As long as #ZW_F is trading above 995 and below 1485 in 43 days I'll get the max profit...but likely manage before...
This is a VERY affordable trade. Buying power should be around $225/spread and that's your max loss. It's 1:1 risk/reward, but actually better because the short legs have a .20 delta which means I have 60%+ chance of capturing the full profit.
