Look for continued strength in Hog prices. Start to look for an exit as prices move near or above 78 on the June 17 contract.

Volume will be the indicator if longs will keep control of this market and pound price above 80. At 80, lots of shorts will be puking hard. This means that there will be a spike higher, taking out stops. This instant volume will run the options price high, so it makes for a great exit. Set an alert for volume, and it will ping you for opportunities to exit.

If you are unable to watch this market closely, put in scaled exits on your options at obscene and reasonable prices. The reasonable price will likely hit in a normal move higher. The obscene price will provide a high profit exit in a surge higher. If the obscene price doesn`t hit, you will be able to take a reasonable exit, usually.

I like the way he says "usually". I got out of 3 today at 73.00 but have many more to go! Monday I will be looking to buy if they are weak and selling if they are strong!

Good weekend to all.
Dewey