We Are Long Sugar When Prices Broke Above 16.48 Today

We purchased a March 2014 Sugar #11 Call Option at a strike price of 16.75 (cost of $268.80).  This Call option is 2 strike prices out of the money.  We could have gone for a slightly cheaper Call option that is 3 strike prices out of the money (a 17.00 Call option would have cost $224.00) but the 16.75 Call option was a much better deal.  This option expires on 2/18.  Every penny in Sugar is $1120.00.  Our target is the 50% Retracement level of $18.01.

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