How do you do that, do you buy futures?
Futures, swaps, futures options or swap options are all feasible and each has its place. In this case, I prefer a complex ratio option on the futures, to gain on both premium and speculation, but YMMV. If you wish to start speculating on soft commodities, I suggest Interactive Brokers for U.S. / U.K. punters. $10k will open a U.S. futures speculation account, but 30k is easier to work with. When starting I suggest no more than 2x leverage, and no option trades, until you are have endured one or two adverse 5 sigma moves. Which, counter-intuitively, should not take but a few months, given current market stresses, and the totally broken state of the primary global market risk measures (interest rates). If you are new to this, keep in mind that everything about the system is designed to take your money. You will be a guppy amongst the sharks, until you can grow some teeth. Then you will be a teeny, tiny little shark, amongst the great whites.
Up from 467 to 475½ now, intraday. I will scale down a bit at 480, then let the rest of my exposure ride for a week or two, if the monkey is right.
