To 'get' puts and calls you have to back up to the underlying futures contract. You can either buy, or sell a contract. It doesnt matter if you own corn, plant corn, or not. The contract will specify when and where you must make, or take delivery. In reality, few contracts are delivered or collected. Most people, if they sold one, will buy one to cover it and sell their production locally or if they bought one, will sell one and buy what they need locally. Regardless, you will win on one side, lose on the other but guarentee your price.
Puts and calls (both are options) are like insurance. You are buying the right to buy a futures contract at a fixed price for a fixed period of time. They are also traded on the exchanges. The great thing about them is you arent obligated to the full contract, what you pay for the option is all you are obligated for is the price of the option itself.
There are some good tutorials on NYMEX and CBOT. Also, check around locally. My commodities broker is local, just a three person operation in an office trailer beside the stockyards. They are affiliated with an independent dealership to make the actual trades on the exchanges but as far as questions, answers, and ideas they taught me a lot.
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Today's Featured Article - Usin Your Implements: Bucket Loader - by Curtis Von Fange. Introduction: Dad was raised during the depression years of the thirties. As a kid he worked part time on a farm in Kansas doing many of the manual chores. Some of the more successful farmers of that day had a new time saving device called a tractor. It increased the farm productivity and, in general, made life easier because more work could be done with this 'mechanical beast'. My dad dreamed that some day he would have his own tractor with every implement he could get. When he rea
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