ICE Coffee Futures Close Lower on Options Expirations by FC Stone

Arabica Coffee Futures traded 140 points lower on Thursday at 118.75 for the March delivery contract
on December options expiration today. The active switch between December and March reached a
high of -3.25 and settled at -3.45 with a volume of 21,328, as participants prepare for first notice day
on November 19 th . Total switch volume reached 30,337 out of a total 78,667 lots traded today, leaving
a true volume of only 17,993 lots. Open interest decreased during yesterday’s trading session by 432
lots to a total of 199,722 open lots, suggesting some short covering took place. The Brazilian settled at
BRL3.7711 after reaching a high of BRL 3.8154 on anticipation of improvement of jobless claims in the
United States, which showed to be unchanged at 276,000. The Colombian peso closed at COP 3036.84.