Right now, opportunity isn't knocking; it's beating in the door with a fire axe.
Try this one: buy a 240 strike July coffee call and sell 3 July 290 or July 300 coffee calls against it. Plan on buying 1 more July call, 240 to 270 strike, if July KC hits 220. Otherwise, plan on exiting the trade in late May. Note that, even if July coffee absolutely tanks out, you can (and very likely will) make a profit regardless once the bull's back is broken -- just sell back your long call(s) and sit with the shorts until, again, late May. Holding shorts into June is problematic for weather reasons.
Let this Ukraina flap blow over, then either buy Chicago wheat July puts, sell the July future outright, or put on bear spreads in either N/K or Z/U. The planting is complete in Ukraina, and, absent a "war" tearing up the fields (which neither Putin nor Ukraina want at all), this trade has profit written all over it.
Best, as ever, ...
Down 226.05(1.38%) 12:08PM EST
You’re absolutely right, these down ticks for doom’n’gloom headlines end up being low volume buying opportunities. Today looks like it’s going to be a lot of fun.