March sugar has been consolidating between 1850 and 1900 since the hefty break from above 2400 in August to the lows near 1840 two weeks ago. The March options have 50 days until expiration and futures are currently trading at 1935. Most of the news which drove prices to these levels has been absorbed and the 1850 area should be major support. We can sell the 1850 puts for about 33 points or $375.

The Trade:   Sell/Write the March 1850 sugar puts for 33 Points or better ($11.20 per point)
Protection:   Buy back the Put if futures trade below 1840.
Objective:     Option expires worthless at expiration and keep entire premium


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