已经有一些聪明钱开始进入咖啡多头了，用的是BULL SPREAD. 145/160。他们比我更富有想象力，从这些交易的手法看，的确称得上聪明钱。因为咖啡的波动性很大，所以期货的杠杆并不高，当波动率极低时，期权就变成一个有利可图的工具了。同样杠杆的咖啡合约，期权比期货要节约大约一半的保证金，当然，是要设计好期权组合的前提下。

COFFEE OPTIONS: Traders Bet on Price Rebound in Call Spreads

By?Shruti Date Singh

(Bloomberg) –?

December arabica coffee 145/160 call spreads traded ~1k times as most-active futures plunged to the lowest since September 2005 amid large supplies from Brazil and the country’s weakening currency.

NOTE: Coffee Extends Drop to 13-Year Low as Brazil Real Weakens

Arabica-coffee futures dropped to a fresh low, trading at the cheapest since September 2005, as large crops hang over the market and a weaker Brazilian real makes sales from t