The green arrows on the chart below indicate cycle bottoms. These occur regularly every 25-30 days. We were at day 27 Friday, which means you should have anticipated a bounce at the very least. That would be the worst time to sell grain but a reasonable time to employ bullish strategies such as selling puts. When prices are near major cycle bottoms or well below major moving averages, or at excessive bearish sentiment, you employ bullish strategies. You could have used the same strategy Friday that we used back on December 7 and still collected a nice premium.