Starfuels Metals Commentary

Volatility & Flows Commentary

ClearPort Flows (As of 6-12-14 Close)

Symbol	Quantity	Strike	Structure	Price	Ivol	Hedge Month	Futures	Delta
OGZ4	1500x500x1500	1100/1270/1450	Iron Fly Ratio 1x3 strangles	55.50		GCZ4	1267.00	ref
OGM5	580x1160x580	1200/1075/950	Put fly	15.90		GCM5	1269.00	0.10
OGZ4	252x252	1200/1325	Fence	6.20c		GCZ4	1275.00	0.54
OGN4	300	1270	Puts	9.80		GCQ4	1273.00	0.44
OGN4	500	1280	Calls	7.40		GCQ4	1271.50	0.38
OGZ4	100	1200	Puts	19.30		GCZ4	1275.00	0.20
OGV4/OGZ4	125x125	1200/1400	Fence Calendar	1.20p		GCV4/GCZ4	1272/1272.4	.16/.12
OGZ4	200x200	1200/1325	Fence	6.30c		GCZ4	1275.00	1.00
OGV4	300	1350	Calls	10.20		GCV4	1274.00	0.21

SON4	200	19	Puts	0.12		SIN4	19.31	0.26
SOU4	229x229	19.50/21	Call Spread	0.395		SIU4	19.40	0.34
SOM5	300x300	19/15	Put Spread	1.03		SIN5	19.56	0.33
SON4/SOQ4	240x240	20	Call Calendar Spread	0.175		SIN4/SIU4	19.53/19.57	.14net

PLOQ4	200	1600	Calls	3.50		PLV4	1439.00	ref
PLON4	150	1500	Calls	1.5		PLN4	1445.00	ref

PAOU4	50x50	850/810	Put Spread	20.5		PAU4	821.50	ref
PAON4	50	810	Puts	7		PAU4	823.00	0.36

Straddle Runs & Skew Summary

updated Thursday, June 12, 2014 9:26:03 PM GMT

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