Wheat did bottom on the day I called the bottom. On Wednesday, wheat reached the 23.6 Fibonacci and bounced off like you might expect. I think we could get some sort of pull back down to the daily cycle trend line but feel very confident in the trade. How much premium we will keep is still not certain, but I feel pretty good that we will keep all of it. The next Fib retracement is 38.2% which is at $4.87. Given that the puts we sold were $4.75, I think the odds are good we will keep all the premium.