Category: Weekly Newsletter

Selling options premium or “options writing” is an advance, sometimes unlimited risk strategy and not suitable for everyone!! read more and download PDF “cheat Sheet” HERE.

Real Time Trading Signals

Sign up to receive a family of studies along with trading ALGORITHMS you can place on your own charts, your own time frame, and the markets you prefer.

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Real-time intraday signals delivered directly through Sierra Chart or TradingView
Clear entries, exits, and trend bias based on objective, rules-driven logic
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23-page PDF eBook detailing the logic, concept and trading applications
The Diamond ALGO and indicators family – applicable to any market at any time frame
One-on-one remote session to get you started
Online meeting invitation if you need any help with installation

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Futures Options Writing

Have you ever wondered who sells the futures options that most people buy? These people are known as the option writers/sellers. Their sole objective is to collect the premium paid by the option buyer. Option writing can also be used for hedging purposes and reducing risk. An option writer has the exact opposite to gain as the option buyer.

The writer has unlimited risk and a limited profit potential, which is the premium of the option minus commissions. When writing naked futures options your risk is unlimited, without the use of stops. This is why we recommend exiting positions once a market trades through an area you perceived as strong support or resistance. So why would anyone want to write an option? Here are a few reasons:

Most futures options expire worthless and out of the money. Therefore, the option writer is collecting the premium the option buyer paid.
There are three ways to win as an option writer. A market can go in the direction you thought, it can trade sideways and in a channel, or it can even go slowly against you but not through your strike price. The advantage is time decay.
The writer believes the futures contract will not reach a certain strike price by the expiration date of the option. This is known as naked option selling.
To hedge against a futures position. For example: someone who goes long cocoa at 850 can write a 900 strike price call option with about one month of time until option expiration. This allows you to collect the premium of the call option if cocoa settles below 900, based on option expiration. It also allows you to make a profit on the actual futures contract between 851 and 900. This strategy also lowers your margin on the trade and should cocoa continue lower to 800, you at least collect some premium on the option you wrote. Risk lies if cocoa continues to decline because you only collect a certain amount of premium and the futures contract has unlimited risk the lower it goes.

Futures 102: The Daily Briefing by Cannon

Every morning, the world’s biggest banks and macro strategists publish where markets are headed. The rest of the world waits for the headline.

That intelligence stays locked inside trading desks, institutional terminals, and private client portals — accessible only to the few who pay for the privilege, and even they only get what they pay for.

This briefing changes that (100% FREE on Cannon’s website!!). Every morning we scour the open web and aggregate everything that matters — pulling from publicly available sources so you never have to — and distill it into one clear, readable edition you can get through before your first coffee is finished.

No terminals. No subscriptions. No private portals. Just everything the market is saying, gathered in one place, every morning before the bell.

Read the Latest Briefing HERE and make sure to Bookmark this page!

Wheat Corn Spread

Some professional futures traders prefer trading spreads—both intraday and swing—because spreads can reduce outright market risk while still offering opportunities for consistent returns. By trading the price relationship between two related contracts rather than a single direction, traders can benefit from relative value inefficiencies, seasonal patterns, and supply-demand imbalances. Intraday spread trading often provides smoother price action and tighter risk control, while swing trading spreads can capitalize on longer-term structural trends with lower volatility compared to outright positions. Additionally, spreads typically require lower margin and can be less sensitive to macro shocks, making them an appealing strategy for disciplined risk management and more stable performance.

That being said – spread trading is risky just like futures trading and past performance is not indicative of future results.

In today’s chart review, you will see an idea/ outlook of a swing trade between the Corn and wheat.

Some INTRA day traders will day trade gold vs silver, MNQ versus MES, ten years vs the 30 years and more….

Curious?

Learn more here or even better schedule a one on one consultation with a licensed series 3 broker HERE

The PriceCount study is a tool that can help to project the distance of a move in price. The counts are not intended to be an ‘exact’ science but rather offer a target area for the four objectives which are based off the first leg of a move with each subsequent count having a smaller percentage of being achieved.

It is normal for the chart to react by correcting or consolidating at an objective and then either resuming its move or reversing trend. Best utilized in conjunction with other technical tools, PriceCounts offer one more way to analyze charts and help to manage your positions and risk.

Learn more at www.qtchartoftheday.com

Trading in futures, options, securities, derivatives or OTC products entails significant risks which must be understood prior to trading and may not be appropriate for all investors. Past performance of actual trades or strategies is not necessarily indicative of future results.

FREE TRIAL TO QT MARKET Center – Access to analysis, tools, news & Much more!

Highly recommended for HEDGERS!

Cannon Edge — Your Daily Futures Insight for the Next Trading Day! Cannon Edge for July 13th, 2026

Cannon Edge is our new daily feature designed to give traders a fast, actionable overview of key futures markets. Each post delivers:

Current price and daily % change
30‑day and 52‑week highs/lows
PROPRIETARY Short‑term and long‑term trend signals
Coverage across equity indices, metals, energies, currencies, and ags

Whether you’re scanning for breakout setups, trend reversals, or just staying informed — Cannon Edge puts the data in your hands before the open.

Built for speed. Backed by insight. Powered by CQG.

Would you like to get weekly updates on real-time, results of Automated trading systems ?

Daily Levels for July 13th, 2026

Trading Reports for Next Week

First Notice (FN), Last trading (LT) Days for the Week:

www.mrci.com

Find us on Trustpilot

Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors. You should carefully consider whether trading is suitable for you in light of your circumstances, knowledge, and financial resources. You may lose all or more of your initial investment. Opinions, market data, and recommendations are subject to change at any time.

Subscribe to our YouTube Channel

Listen to our podcast: Subscribe on Apple, Spotify, Amazon

or wherever you listen to podcasts!

Happy 4th of July (Eve)! PLUS: The Week Ahead, CannonEdge Snapshot, Levels, Reports; Your 4 Important Can’t-Miss Need-To-Knows for Trading Futures the Week of July 6th, 2026

Posted on July 3, 2026 by Cannon Operations

At A Glance Levels

Instrument	S2	S1	Pivot	R1	R2
Gold (GC) — Aug (#GC)	4100.80	4142.30	4175.30	4216.80	4249.80
Silver (SI) — July. (#SI)	60.55	61.67	62.51	63.64	64.48
Crude Oil (CL) — Aug (#CL)	67.50	68.09	68.68	69.27	69.86
Sept. Bonds (ZB) — Sept. (#ZB)	111 30/32	112 3/32	112 14/32	112 19/32	112 30/32

The Week Ahead

4th of July

Here’s hoping everyone returned to the first full week of July with all of their fingers, toes and faculties following the 250the celebration of our country. The key futures market news for next week’s trading focuses on Wednesday’s release of the FOMC minutes, the first of Chairman Warsh’s tenure and WASDE on Friday. These are the known factors affecting market direction.

Who can trust the fragile Islamabad Memorandum of Understanding?

As of July 3, 2026, a fragile ceasefire is in place between the U.S. and Iran following a multi-month conflict. Peace talks are currently paused as Iran begins a week-long funeral for former Supreme Leader Ayatollah Ali Khamenei.

Is the smoke clearing in the Mid-East and the markets have a renewed sense of confidence?

The energy and metals are swirling in the uncertainty of a lack of resolution in the attempted unwinding of the Iranian nuclear program. The 60-day window to hammer out a deal is now only 40 days with a week long pause as Iran will be mourning their fallen leader for the next week before talks resume.

Don’t let your guard down just yet, the fog continues, tune into the Sunday evening markets to witness reactions to the weekend news streams, manufactured or true.

Plan your trade and trade your plan!

Earnings Next Week:

· Mon. Quiet

· Tue. MSC Industrial Direct, Enerpac Tool Group

· Wed. PriceSmart, AZZ

· Thu. PepsiCo, Progressive, Cintas

· Fri. Delta Airlines, Hyatt Hotels

Fed Speakers: (all times CDT)

· Mon. Quiet

· Tues. Quiet

· Wed. 1:00 pm FOMC Minutes

· Thu. 8:00 am Williams

· Fri. Quiet

Econ Data:

· Mon. S&P Services , ISM Services,

· Tue. Balance of Trade, Redbook, Consumer inflation Expectations, API Crude stock change

· Wed. Used car prices, Wholesale Inventories, EIA Crude stock Change, FOMC

Minutes

· Thu. Initial Jobless claims, Existing Home Sales, EIA Nat Gas Stocks,

Fri. WASDE, Baker Hughes Oil Rig Count

Cannon Edge — Your Daily Futures Snapshot for July 6th

Daily Levels for July 6th, 2026

Economic Reports

provided by: ForexFactory.com

All times are Central Time ( Chicago)

Find us on Trustpilot

Subscribe to our YouTube Channel

Listen to our podcast: Subscribe on Apple, Spotify, Amazon

or wherever you listen to podcasts!

Iran, Crude Oil, NFP PLUS: 4th of July Trading Hours, Futures 102, Options 303 – Short Straddle, September Midwest Wheat Spread, CannonEdge Snapshot, Levels, Reports; What YOU Need to Know Before Trading Futures the Week of June 29th, 2026

Posted on June 26, 2026 by Cannon Operations

Cannon Futures Weekly Letter

In Today’s Issue #1296

The Week Ahead – Earnings, NFP, Iran + Crude Oil
4th of July Trading Hours
Futures 102 – The Daily Briefing – What the Pros Know Before Trading
Options 303: Short Straddle
Chicago Wheat/ KC Wheat Spread Chart & Outlook
Cannon Edge – Your Futures trading Map for the week ahead!
Trading Levels for Next Week
Trading Reports for Next Week

At A Glance Levels

Instrument	S2	S1	Pivot	R1	R2
Gold (GC) — Aug (#GC)	3951.73	4018.77	4065.13	4132.17	4178.53
Silver (SI) — July. (#SI)	54.60	56.94	58.47	60.81	62.34
Crude Oil (CL) — Aug (#CL)	66.64	68.02	69.94	71.32	73.24
Sept. Bonds (ZB) — Sept. (#ZB)	113 10/32	113 22/32	114	114 12/32	114 22/32

What Futures Traders Should Watch This Week

By John Thorpe, Senior Broker

oil

The Week Ahead

The key futures market news for next week’s shorten trading week focuses on US Non-Farm Payrolls (NFP) report released ahead of the holiday (Thursday a.m.). Note: Non-farm payrolls are expected to rise by 90,000, with the unemployment rate projected at 4.5%., Fed Chair Kevin Warsh speaks Wednesday. Friday early closings in observance of Independence Day please check the attached calendar for your favorite market operating times.

Is the smoke clearing in the Mid-East and the markets have a renewed sense of confidence?

The energy and metals are swirling in the uncertainty of a lack of resolution in the attempted unwinding of the Iranian nuclear program.

Don’t let your guard down just yet, the fog continues, tune into the Sunday evening markets to witness reactions to the weekend news streams, manufactured or true.

Plan your trade and trade your plan!

Earnings Next Week:

· Mon. AeroVironment

· Tue. Nike, Constellation Brands

· Wed. General Mills

· Thu. Unifirst, National Beverage

· Fri. Quiet

FED SPEECHES: (all times CDT)

· Mon. Quiet

· Tues. Quiet

· Wed. 8:00 am Fed Chair Kevin Warsh

· Thu. Quiet

· Fri. Quiet

Econ Data:

· Mon. Dallas Fed,,

· Tue. Redbook, Case/Shiller, Chicago PMI, JOLTS, Consumer confidence, Quarterly Grain Stocks

· API Crude Stock Change

· Wed. ADP, EIA Crude stock Change, S&P PMI, ISM numbers,

· Thu. NFP, Initial Jobless claims, Factory orders EIA Nat Gas Stocks, Baker Hughes Oil Rig Count

· Fri. 4th of July Markets on this 3^rd of July no U.S. Data releases.

Get a daily market edge—support & resistance levels plus key market-moving insights.

Read the Latest Briefing HERE and make sure to Bookmark this page!

4th of July Modified trading Schedule

As we approach Independence Day, we’re reminded of the remarkable history and spirit that define the United States.

This year is especially meaningful as the nation celebrates its 250th anniversary—marking two and a half centuries of resilience, innovation, and freedom since the signing of the Declaration of Independence.

It’s a moment to reflect on that legacy while enjoying time with family, friends, and community. In observance of the holiday, please see our updated hours below.

MODIFIED HOURS

In previous Newsletters, we provided you with definitions and examples of Long Option Straddles, and short option straddles. Today I want to show you the Short Option straddle with an always in the market futures position, this is a technique we use in a relatively new trading program we are offering called “AIM” Always In the Market.

The option strategy compliments futures contracts in Micro Crude oil, Micro E-mini Nasdaq, Micro E-mini S&P 500 and the U.S. 30 yr bond contract using a swing trading protocol for the futures and a short option straddle placed weekly.

Please contact your broker Please contact your broker, if you are a current client or call us to learn more about this opportunity.

Options Workshop 303:

By John Thorpe, Senior Broker

A short option straddle combined with an open futures position is basically a way to collect option premium while modifying the risk profile of your futures trade. The exact effect depends on whether your futures position is long or short.

A short straddle means you:

Sell a call option
Sell a put option
Same futures contract (underlying), same strike price, same expiration

You receive premium upfront, but you take on the obligation:

If futures rise a lot → the short call loses
If futures fall a lot → the short put loses
You benefit if futures stay near the strike

Example: You are already long futures

Suppose:

Long 1 crude oil futures at $75
Sell a $75 call for $2
Sell a $75 put for $2

You collect $4 premium.

Your position is now:

Long futures + short straddle

If crude goes to $75 at expiration:

Futures: $0 gain/loss
Call expires worthless: +$2
Put expires worthless: +$2

Total: +$4

This is the ideal outcome: the market stays flat.

If crude goes to $85:

Futures: +$10
Short call: -$10
Short put: $0
Premium: +$4

Net:

+$4

The short call caps some of your upside, because your long futures gain offsets the call loss.

If crude goes to $65:

Futures: -$10
Short put: -$10
Short call: $0
Premium: +$4

Net:

-$16

This is the danger: the short put adds downside exposure on top of your losing futures position.

So:

Long futures + short straddle = you are basically betting the market will stay stable, but you have extra downside risk.

If you are short futures

Now reverse it:

Short futures
Sell call
Sell put

Example:

Short crude at $75, collect $4 premium.

At expiration:

Market at $75

Futures: 0
Options: +$4
= +$4

Market at $65

Futures: +$10
Short put: -$10
= +$4

Market at $85

Futures: -$10
Short call: -$10
= -$16

So:

Short futures + short straddle = downside is somewhat protected by the short futures, but a big rally hurts badly.

Why would someone do this?

Common reasons:

Income generation

Collect option premium
Works if volatility collapses and futures stay range-bound

Turn a directional futures position into a range trade

Long futures alone = bullish
Long futures + short straddle = “bullish but expecting little movement”

Hedge existing futures exposure

But it is not a traditional hedge because you are adding short option risk

The key risk

A short straddle has unlimited risk:

Short call → unlimited loss if futures explode higher
Short put → large loss if futures crash

The futures position can offset one side, but it usually makes the other side worse.

A useful way to think about it:

Long futures + short straddle = short volatility + long price bias
Short futures + short straddle = short volatility + short price bias

The trade is mostly a bet that futures will not move much before expiration.

Where “reverse the futures” comes in

A trader may manage this by saying:

“If the market moves strongly against me, I will reverse the futures position.”

Example:

Start:

Long futures
Short straddle

Market drops through 4,900.

You decide the move is real, so you:

Sell your long futures
Go short futures

Now you have:

Short futures
Short put
Short call

Your delta has flipped.

If the market keeps falling:

Short futures gains may offset the short put losses.

Example:

Market continues from 4,900 → 4,700.

Short futures:

+200

Short put:

-300

Net:

-100

Instead of the original -300 futures loss + -300 put loss.

Why traders do this

This strategy is sometimes called:

short straddle with futures adjustment
delta hedging
gamma scalping (if actively managed)
short volatility trading

The idea:

Sell expensive implied volatility
Collect premium decay (theta)
Adjust futures exposure as the market moves

You are betting:

“The market will not make a large move faster than I can adjust.”

The major risk

Short straddles have negative gamma:

Small moves are manageable
Big moves accelerate losses

The futures reversal helps, but timing matters. If the market gaps overnight, moves violently, or liquidity disappears, the adjustment may come too late.

A useful way to think about the position:

Market behavior

Result

Stays flat

Best outcome

Slowly trends

Manageable with futures adjustments

Violent move

Dangerous

Gap move

Highest risk

So, the futures position is not a “hedge” in the traditional sense — it is a dynamic directional adjustment tool that changes the straddle’s exposure as the market moves.

Cannon has a product that trades this strategy called AIM “Always in the Market” call us to learn more.

Futures 102: The Daily Briefing by Cannon

Every morning, the world’s biggest banks and macro strategists publish where markets are headed. The rest of the world waits for the headline.

No terminals. No subscriptions. No private portals. Just everything the market is saying, gathered in one place, every morning before the bell.

September KC – Chicago Wheat Spread

The September KC – Chicago Wheat Spread is threatening to break down and resume its slide. New sustained lows would project a possible move to the second downside PriceCount objective to the 15.5 area.

That being said – spread trading is risky just like futures trading and past performance is not indicative of future results.

In today’s chart review, you will see an idea/ outlook of a swing trade between the Chicago Wheat and Kansas City wheat.

Some INTRA day traders will day trade gold vs silver, MNQ versus MES, ten years vs the 30 years and more….

Curious?

Learn more here or even better schedule a one on one consultation with a licensed series 3 broker HERE

Learn more at www.qtchartoftheday.com

FREE TRIAL TO QT MARKET Center – Access to analysis, tools, news & Much more!

Highly recommended for HEDGERS!

Cannon Edge — Your Daily Futures Insight for the Next Trading Day! Cannon Edge for June 29th 2026

Cannon Edge is our new daily feature designed to give traders a fast, actionable overview of key futures markets. Each post delivers:

Current price and daily % change
30‑day and 52‑week highs/lows
PROPRIETARY Short‑term and long‑term trend signals
Coverage across equity indices, metals, energies, currencies, and ags

Whether you’re scanning for breakout setups, trend reversals, or just staying informed — Cannon Edge puts the data in your hands before the open.

Built for speed. Backed by insight. Powered by CQG.

Would you like to get weekly updates on real-time, results of Automated trading systems ?

Daily Levels for June 29th, 2026

Trading Reports for Next Week

First Notice (FN), Last trading (LT) Days for the Week:

www.mrci.com

Find us on Trustpilot

Subscribe to our YouTube Channel

Listen to our podcast: Subscribe on Apple, Spotify, Amazon

or wherever you listen to podcasts!

The Week Ahead: Crude Oil & The Iran Conflict PLUS: Crypto Cup Last Chance! $50,000 in Total Prizes! August Crude Oil, CannonEdge Snapshot, Levels, Reports; Your 7 Important Can’t-Miss Need-To-Knows for Trading Futures The Week of June 22nd, 2026

Posted on June 19, 2026 by Cannon Operations

Cannon Futures Weekly Letter

In Today’s Issue #1295

The Week Ahead – Hawkish Fed? Iran Deal is Real?
Crypto Cup- Last Chance!! – $50,000 Total Prizes!!
Futures 102 – The Daily Briefing – What The Pros Know Before Trading
Chart & Outlook
Cannon Edge – Your Futures trading Map for the week ahead!
Trading Levels for Next Week
Trading Reports for Next Week

At A Glance Levels

Instrument	S2	S1	Pivot	R1	R2
Gold (GC) — Aug (#GC)	4089.33	4132.67	4182.03	4225.37	4274.73
Silver (SI) — July. (#SI)	62.35	63.92	64.93	66.51	67.52
Crude Oil (CL) — July. (#CL)	74.31	75.45	76.11	77.25	77.91
Sept. Bonds (ZB) — Sept. (#ZB)	112 9/32	112 17/32	113 1/32	113 9/32	114 25/32

What Futures Traders Should Watch This Week

By John Thorpe, Senior Broker

crude oil

The Week Ahead

In addition to the Northern Hemisphere’s Summer Solstice and Father’s Day celebrations this Sunday, the key futures market news for next week focuses again on the Middle East and the flow of oil through the straits of Hormuz, Additionally, the reaction to a “hawkish” Fed Chair Warsh’s comments this past Wednesday about clearly doing what is necessary to achieve price stability.

Is the smoke clearing in the Mid-East and the markets have a renewed sense of confidence?

The Memorandum of Understanding unwinding the Iranian nuclear program among 13 other points was signed by both President Trump and Iran’s President Masoud Pezeshkian. “The text of the Islamabad Memorandum of Understanding was finalized with the signatures of the presidents,” Baghaei told the news agency IRNA. “Now it is time to test the implementation of the agreement.”

Don’t let your guard down just yet, the fog continues, tune into the Sunday evening markets to witness reactions to the weekend news streams, manufactured or true.

Plan your trade and trade your plan!

Earnings Next Week:

· Mon. Quiet

· Tue. Fed-Ex, Carnival, KBHome

· Wed. Micron Technology, Paychex, KornFerry

· Thu. Darden Restaurants, Acuity Brands, McCormick, Commercial Metals.

· Fri. Quiet

FED SPEECHES: (all times CDT)

· Mon. Quiet

· Tues. Quiet

· Wed. Quiet

· Thu. Goolsbee 5:30 pm

· Fri. Quiet

Econ Data:

· Mon. Quiet

· Tue. ADP Employment Weekly, Redbook, S&P PMI, Richmond Fed,

· API Crude Stock Change

· Wed. Current Account Q1, New Home Sales, EIA Crude stock change,

· Thu. Core PCE, Durable Goods, GDP Q1 Final, Personal Income, Initial Jobless claims, EIA Nat Gas Stocks, KC Fed

· Fri. Retail Inventories, Michigan Consumer sentiment, Baker Hughes Oil Rig Count

Get a daily market edge—support & resistance levels plus key market-moving insights.

As a Cannon Trading client OR prospect, you’re invited to compete in

The Great Summer Escape Trading Competition featuring Coinbase Derivatives futures contracts!

From June 22 – July 2, trade in a simulated environment and compete for your share of $50,000 in prizes.

Contracts include:

· Etherium: Ether, nano Ether, nano Ether Perp-Style

· Bitcoin: Bitcoin, nano Bitcoin, nano Bitcoin Perp-Style

· Solana: Solana, nano Solana, nano Solana Perp-Style

· XRP: XRP, nano XRP, nano XRP Perp-Style

Sign Up Now!

Futures 102: The Daily Briefing by Cannon

Every morning, the world’s biggest banks and macro strategists publish where markets are headed. The rest of the world waits for the headline.

No terminals. No subscriptions. No private portals. Just everything the market is saying, gathered in one place, every morning before the bell.

Read the Latest Briefing HERE and make sure to Bookmark this page!

August Crude Oil

The break in August Crude Oil has accelerated through its first downside PriceCount objective and is taking aim at the second count to the 71.92 area.

Learn more at www.qtchartoftheday.com

FREE TRIAL TO QT MARKET Center – Access to analysis, tools, news & Much more!

Highly recommended for HEDGERS!

Cannon Edge — Your Daily Futures Insight for the Next Trading Day! Cannon Edge for June 22nd, 2026

Cannon Edge is our new daily feature designed to give traders a fast, actionable overview of key futures markets. Each post delivers:

Current price and daily % change
30‑day and 52‑week highs/lows
PROPRIETARY Short‑term and long‑term trend signals
Coverage across equity indices, metals, energies, currencies, and ags

Whether you’re scanning for breakout setups, trend reversals, or just staying informed — Cannon Edge puts the data in your hands before the open.

Built for speed. Backed by insight. Powered by CQG.

Would you like to get weekly updates on real-time, results of Automated trading systems ?

Daily Levels for June 22nd, 2026

Trading Reports for Next Week

First Notice (FN), Last trading (LT) Days for the Week:

www.mrci.com

Find us on Trustpilot

· Mon. Empire State Manufacturing Index, Industrial Production, Capacity Utilization, NAHB Housing Index,

Subscribe to our YouTube Channel

Listen to our podcast: Subscribe on Apple, Spotify, Amazon

or wherever you listen to podcasts!

The Week Ahead – FOMC rate decision, September contract rollover (U26), the short option straddle strategy used in Cannon Trading’s AIM program PLUS: Crypto Cup – $50,000 Total Prizes!! Futures 102 – The Daily Briefing – What the Pros Know Before Trading, November Soybeans Chart & Outlook, CannonEdge Snapshot, Levels, Reports; Your 9 Important Can’t-Miss Need-To-Knows for Trading Futures the Week of June 15th, 2026

Posted on June 12, 2026 by Cannon Operations

Cannon Futures Weekly Letter

In Today’s Issue #1293

The Week Ahead – Next week features the FOMC rate decision, September contract rollover (U26), and a look at the short option straddle strategy used in Cannon Trading’s AIM program.
Crypto Cup – $50,000 Total Prizes!!
Futures 102 – The Daily Briefing – What The Pros Know Before Trading
November Soybeans Chart & Outlook
Cannon Edge – Your Futures trading Map for the week ahead!
Trading Levels for Next Week
Trading Reports for Next Week

At A Glance Levels

Instrument	S2	S1	Pivot	R1	R2
Gold (GC) — Aug (#GC)	4153.70	4193.00	4230.40	4269.70	4307.10
Silver (SI) — July. (#SI)	65.00	66.51	67.48	68.99	69.96
Crude Oil (CL) — July. (#CL)	80.90	82.64	84.93	86.67	88.96
Sept. Bonds (ZB) — Sept. (#ZB)	111 18/32	111 31/32	112 16/32	112 29/32	113 14/32

What Futures Traders Should Watch This Week

By John Thorpe, Senior Broker

The Week Ahead

fomc

The key futures market news for next week focuses on FOMC rate decision, followed by Fed Chair Kevin Warsh’s first press conference 30 minutes later. It’s Equity Index Rollover Monday! September=U26 is the front month! Begin trading the U26 contracts. It is the next month and year designation.

Here is a quick Youtube Video on how to change your contract on CannonX (cqg StoneX) https://www.youtube.com/watch?v=AzeOgBa5HwA .

Additionally, due to the national Juneteenth Holiday next week falling on a Friday, The June quarterly expiration will fall on Thursday this month. Some markets will have abbreviated hours June 19^th, look for our holiday schedule.

In last week’s newsletter, we provided you with definitions and examples of Long Option Straddles, Today I want to show you the Short Option straddle, this is a technique we use in a relatively new trading program we are offering called “AIM” Always in the Market.

The option strategy compliments futures contracts in Micro Crude oil, Micro E-mini Nasdaq, Micro E-mini S&P 500 and the U.S. 30 yr bond contract using a swing trading protocol. Please contact your broker, if you are a current client or call us to learn more about this opportunity.

Options Workshop 202:

A short volatility option Structure:

A futures option short straddle is an options strategy where you sell (write) both a call option and a put option on the same futures contract, with:

The same strike price
The same expiration date

You collect premiums from both options upfront and profit if the underlying futures price stays close to the strike price until expiration.

Example

Suppose a Crude Oil Futures contract is trading at $70.

You sell:

1 call option with a $70 strike
1 put option with a $70 strike

Assume you receive:

$1.50 for the call

$1.20 for the put

Total premium collected = $2.70

Profit and Loss

Maximum Profit

Your maximum profit is the total premium received:

$2.70 per unit

This occurs if the futures price is exactly at the strike price ($70) at expiration, causing both options to expire worthless.

Break-even Points

Upper break-even: $70 + $2.70 = $72.70
Lower break-even: $70 − $2.70 = $67.30

Loss Potential

Losses occur if the futures price moves significantly above or below the strike.

Examples:

If futures settle at $80, the short call loses about $10, partially offset by the $2.70 premium.
If futures settle at $60, the short put loses about $10, partially offset by the premium.

The downside and upside losses can be very large, making this a high-risk strategy.

Why Traders Use It

A short straddle is typically used when a trader believes:

Volatility is overpriced.
The futures market will remain relatively stable.
Actual price movement will be smaller than what option prices imply.

In other words, it’s generally a short-volatility trade.

Futures Options vs. Stock Options

With futures options:

The underlying asset is a futures contract rather than a stock.
If exercised, the option generally creates a futures position.
Margin requirements and risk management differ from stock options.

Risk Profile

Profit

Max Profit = Premium Collected

| /\

| / \

–+—-/——\—————-> Futures Price

BE BE

| Unlimited loss potential

A short straddle is considered an advanced strategy because it involves selling volatility with potentially large losses if the futures market makes a strong move in either direction.

Is the smoke clearing in the Mid-East and the markets have a renewed sense of confidence?

The energy and metals are swirling in the uncertainty of a lack of resolution in the attempted unwinding of the Iranian nuclear program.

Don’t let your guard down just yet, the fog continues, tune into the Sunday evening markets to witness reactions to the weekend news streams, manufactured or true.

Plan your trade and trade your plan!

Earnings Next Week:

· Mon. Quiet

· Tue. La-Z-Boy

· Wed. Jabil Circuit, Carmax

· Thu. Kroger, Methode Electronics

· Fri. Quiet

FED SPEECHES: (all times CDT)

· Mon. Quiet

· Tues. 8 day blackout period

· Wed. Fed Chair Kevin Warsh’s first Public FOMC Press Conference

· Thu. Quiet

· Fri. Quiet

Econ Data:

· Tue. Building Permits, Housing Starts, NY Fed Svcs., Redbook,

· API Crude Stock Change

· Wed. Retail Sales, Business Inventories, Pending Home Sales, EIA Crude stock Change, Fed. Rate Decision, Economic Projections

· Thu. Initial Jobless claims, Philly Fed., CB Leading Index, EIA Nat Gas Stocks, Baker Hughes Oil Rig Count

· Fri. Juneteenth, therefor no U.S. Data releases.

Get a daily market edge—support & resistance levels plus key market-moving insights.

As a Cannon Trading client OR prospect, you’re invited to compete in the Great Summer Escape Trading Competition featuring Coinbase Derivatives futures contracts!

From June 22 – July 2, trade in a simulated environment and compete for your share of $50,000 in prizes.

Contracts include:

· Ethereum: Ether, nano Ether, nano Ether Perp-Style

· Bitcoin: Bitcoin, nano Bitcoin, nano Bitcoin Perp-Style

· Solana: Solana, nano Solana, nano Solana Perp-Style

· XRP: XRP, nano XRP, nano XRP Perp-Style

Sign Up Now!

Futures 102: The Daily Briefing by Cannon

Every morning, the world’s biggest banks and macro strategists publish where markets are headed. The rest of the world waits for the headline.

This briefing changes that ( 100% FREE on Cannon’s website!!). Every morning we scour the open web and aggregate everything that matters — pulling from publicly available sources so you never have to — and distill it into one clear, readable edition you can get through before your first coffee is finished.

No terminals. No subscriptions. No private portals. Just everything the market is saying, gathered in one place, every morning before the bell.

Read the Latest Briefing HERE and make sure to Bookmark this page!

November Soybeans

November beans completed the first downside PriceCount objective and is correcting with a near term consolidation. If the chart can resume its break with new sustainable lows, the second count would project a possible slide to the $11.05 area.

Learn more at www.qtchartoftheday.com

FREE TRIAL TO QT MARKET Center – Access to analysis, tools, news & Much more!

Highly recommended for HEDGERS!

Cannon Edge — Your Daily Futures Insight for the Next Trading Day! Cannon Edge for June 15th 2026

Cannon Edge is our new daily feature designed to give traders a fast, actionable overview of key futures markets. Each post delivers:

Current price and daily % change
30‑day and 52‑week highs/lows
PROPRIETARY Short‑term and long‑term trend signals
Coverage across equity indices, metals, energies, currencies, and ags

Whether you’re scanning for breakout setups, trend reversals, or just staying informed — Cannon Edge puts the data in your hands before the open.

Built for speed. Backed by insight. Powered by CQG.

Would you like to get weekly updates on real-time, results of systems mentioned above?

Daily Levels for June 15th 2026

Trading Reports for Next Week

First Notice (FN), Last trading (LT) Days for the Week:

www.mrci.com

Find us on Trustpilot

Read the Latest Briefing HERE and make sure to Bookmark this page!

Subscribe to our YouTube Channel

Listen to our podcast: Subscribe on Apple, Spotify, Amazon

or wherever you listen to podcasts!

Futures Options Basics PLUS: The Week Ahead – NFP, Earnings, Middle East Smoke Clearing? Crypto Cup – $50,000 Total Prizes!! Futures 102 – The Daily Briefing – What the Pros Know Before Trading, June Emini S&P, CannonEdge Snapshot, Levels, Reports; Your 8 Important Can’t-Miss Need-To-Knows before Trading Futures the Week of June 1st, 2026

Posted on May 29, 2026 by Cannon Operations

Cannon Futures Weekly Letter

In Today’s Issue #1291

The Week Ahead – NFP, Earnings, Middle East Smoke Clearing?
Crypto Cup – $50,000 Total Prizes!!
Futures 102 – The Daily Briefing – What the Pros Know Before Trading
July Soymeal Chart & Outlook
Cannon Edge – Your Futures trading Map for the week ahead!
Trading Levels for Next Week
Trading Reports for Next Week

At A Glance Levels

Instrument	S2	S1	Pivot	R1	R2
Gold (GC) — June (#GC)	4467.07	4522.23	4574.67	4629.83	4682.27
Silver (SI) — July. (#SI)	73.75	74.82	75.89	76.97	78.04
Crude Oil (CL) — July. (#CL)	85.16	86.63	87.83	89.30	90.50
Sept. Bonds (ZB) — Sept. (#ZB)	111 29/32	112 6/32	112 13/32	112 22/32	112 29/32

What Futures Traders Should Watch This Week

Options

By John Thorpe, Senior Broker

The Week Ahead

Non-Farm Payrolls Friday! With a few earnings, economic reports and fed speakers thrown in.

Under the Bull or Bear category for our clients who would care to better understand how options can complement your trading; I’ve put together a cheat sheet, please contact your broker to discuss the characteristics and how you can incorporate options into your existing strategy.

options

Futures Options Basics

Futures options (also called options on futures) are derivative contracts that give the buyer the right, but not the obligation, to enter into a futures contract at a specific price (the strike) by a certain date (expiration).

1. Quick Refresher: What is a Futures Contract?

A futures contract is a standardized agreement to buy or sell an underlying asset (commodities, stock indexes, interest rates, currencies, etc.) at a predetermined price on a future date.
Futures are marked-to-market daily and usually cash-settled or physically delivered.
They are traded on exchanges like CME, ICE, etc.

2. What is an Option on a Futures?

Instead of trading the futures itself, you trade an option whose underlying is a futures contract.

Call Option on Futures: Gives the buyer the right to go long (buy) the underlying futures contract at the strike price.
Put Option on Futures: Gives the buyer the right to go short (sell) the underlying futures contract at the strike price.

When you exercise (or the option is auto-exercised at expiration if in-the-money), you don’t get the physical commodity or cash directly — you get a position in the futures contract at the strike price, plus any variation margin.

3. Key Terms

Term

Meaning

Premium

The price you pay to buy the option (quoted in points/ticks, just like the futures).

Strike Price

The price at which you can enter the futures if you exercise.

Expiration

Options on futures typically expire a few days/weeks before the underlying futures contract expires.

In-the-Money (ITM)

Call: Futures price > Strike Put: Futures price < Strike

At-the-Money (ATM)

Futures price ≈ Strike

Out-of-the-Money (OTM)

Opposite of ITM

American vs European

Most futures options are American (can be exercised any time before expiration).

4. How Settlement Works (Important Difference from Stock Options)

If exercised, the call buyer receives a long futures position at the strike.
The put buyer receives a short futures position at the strike.
The option seller takes the opposite futures position.
Because futures are marked-to-market daily, the account is immediately credited/debited the difference between the strike and current futures price.

Example:

Crude oil futures are trading at $75.
You buy a $72 Call for $2.50 premium.
At expiration, crude oil futures are at $78.
The call is worth $6 intrinsically ($78 – $72).
You can exercise → you get a long futures position marked at $72 while the market is $78 → your account is credited $6 immediately.

5. Payoff at Expiration (Simplified)

Long Call: Max(0, Futures Price – Strike) – Premium
Long Put: Max(0, Strike – Futures Price) – Premium
Limited risk (only the premium), unlimited potential gain (like stock options).

6. Major Advantages of Futures Options

High leverage with defined risk.
Often lower margin requirements than trading the outright futures.
Very liquid markets for major contracts (S&P 500 / ES, Crude Oil / CL, Gold, 10-Year Treasuries, etc.).
No stock borrowing issues or hard-to-borrow fees.
Tax treatment in many jurisdictions (60/40 rule in the US for Section 1256 contracts).

7. Risks

Time decay (theta) — options lose value as expiration approaches.
Volatility changes (vega).
You can lose 100% of the premium.
Futures themselves are highly leveraged — so even though option risk is limited, the underlying moves can be large.

8. Simple Real-World Example (as of 2025 knowledge)

E-mini S&P 500 futures (ES) trading at 5,800.
You expect a rally before expiration → Buy the 5,850 Call for 45 points ($1,125 per contract, since $50 × 45).
If ES rallies to 5,950 by expiration → intrinsic value = 100 points → nice profit.
If ES drops to 5,700 → option expires worthless → you lose only the $1,125 premium.

We can trade either side of the market and prepare for volatility. On Monday, reach out to your broker for trading ideas. Bull or Bear, you really shouldn’t care.

Is the smoke clearing in the Mid-East and the markets have a renewed sense of confidence?

The energy and metals are swirling in the uncertainty of a lack of resolution in the attempted unwinding of the Iranian nuclear program.

Don’t let your guard down just yet, the fog continues, tune into the Sunday evening markets to witness reactions to the weekend news streams, manufactured or true.

Plan your trade and trade your plan!

Earnings Next Week:

· Mon. HP,

· Tue. PaloAlto Networks, Dollar General

· Wed. Broadcom, Crowdstrike, Macy’s

· Thu. Ciena

· Fri. Quiet

FED SPEECHES: (all times CDT)

· Mon. Quiet

· Tues. 7:30am Hammack

· Wed. 8:00am Barr, 3:00 pm Logan

· Thu. 12:10pm Daly

· Fri. Quiet

Econ Data:

· Mon. ISM PMI

· Tue. Redbook, JOLTS, API Crude Stock Change

· Wed. ADP Employment Change Weekly, Factory Orders, EIA Crude stock Change

· Thu. Initial Jobless claims, EIA Nat Gas Stocks 9:30 am CDT,

· Fri. Non-Farm Payrolls, Baker Hughes Oil Rig Count

As a Cannon Trading client OR prospect, you’re invited to compete in the

Great Summer Escape Trading Competition featuring Coinbase Derivatives futures contracts!

From June 22 – July 2, trade in a simulated environment and compete for your share of $50,000 in prizes

Contracts include:

· Etherium: Ether, nano Ether, nano Ether Perp-Style

· Bitcoin: Bitcoin, nano Bitcoin, nano Bitcoin Perp-Style

· Solana: Solana, nano Solana, nano Solana Perp-Style

· XRP: XRP, nano XRP, nano XRP Perp-Style

Sign Up Now!

Futures 102: The Daily Briefing by Cannon

Every morning, the world’s biggest banks and macro strategists publish where markets are headed. The rest of the world waits for the headline.

No terminals. No subscriptions. No private portals. Just everything the market is saying, gathered in one place, every morning before the bell.

June Emini S&P

The June Emini S&P satisfied its second upside PriceCount objective where it would be normal to get a near term reaction in the form of a consolidation or corrective trade. At this point, IF the chart can sustain further strength, the third could project a possible run to the 8720 area.

Learn more at www.qtchartoftheday.com

FREE TRIAL TO QT MARKET Center – Access to analysis, tools, news & much more!

Highly recommended for HEDGERS!

Cannon Edge — Your Daily Futures Insight for the Next Trading Day! Cannon Edge for June 1st, 2026

Cannon Edge is our new daily feature designed to give traders a fast, actionable overview of key futures markets. Each post delivers:

Current price and daily % change
30‑day and 52‑week highs/lows
PROPRIETARY Short‑term and long‑term trend signals
Coverage across equity indices, metals, energies, currencies, and ags

Whether you’re scanning for breakout setups, trend reversals, or just staying informed — Cannon Edge puts the data in your hands before the open.

Built for speed. Backed by insight. Powered by CQG.

Would you like to get weekly updates on real-time, results of systems mentioned above?

Daily Levels for June 1st, 2026

Would you like to receive daily support & resistance levels?

Trading Reports for Next Week

First Notice (FN), Last trading (LT) Days for the Week:

www.mrci.com

Find us on Trustpilot

Subscribe to our YouTube Channel

Listen to our podcast: Subscribe on Apple, Spotify, Amazon

or wherever you listen to podcasts!

The Week Ahead – CRUDE OIL, Memorial Day, Earnings, Middle East Smoke Clearing? PLUS: Memorial Day Trading Schedule, Futures 102 – The Daily Briefing – What the Pros Know Before Trading, December Cotton Chart & Outlook, Cannon Edge Snapshot, Levels, Reports; Your 8 Important Cant’-Miss Need-To-Knows Before Trading Futures the Week of May 25th, 2026

Posted on May 22, 2026 by Cannon Operations

Cannon Futures Weekly Letter

In Today’s Issue #1291

The Week Ahead – Memorial Day, Earnings, Middle East Smoke Clearing?
Memorial Day Trading Schedule
Futures 102 – The Daily Briefing – What the Pros Know Before Trading
December Cotton Chart & Outlook
Cannon Edge – Your Futures trading Map for the week ahead!
Trading Levels for Next Week
Trading Reports for Next Week

At A Glance Levels

Instrument	S2	S1	Pivot	R1	R2
Gold (GC) — June (#GC)	4451.17	4498.13	4535.27	4582.23	4619.37
Silver (SI) — July. (#SI)	73.64	75.36	76.42	78.15	79.21
Crude Oil (CL) — July. (#CL)	91.72	94.59	98.62	101.49	105.52
June Bonds (ZB) — June. (#ZB)	108 21/32	109 1/32	109 8/32	109 20/32	109 27/32

What Futures Traders Should Watch This Week

By John Thorpe, Senior Broker

Memorial Day Monday-Honoring those who have given the ultimate sacrifice, since 1868.

Cannon Trading wishes everyone a safe and memorable holiday weekend!

For all of the energy traders who follow here, some of the standard weekly reports that you count on have shifted. The Tuesday afternoon weekly API Crude Stock change will be Wednesday afternoon,

The EIA Crude Oil stocks report is being moved to Thursday @ 11:00 am, this will be after the normally scheduled EIA Nat. Gas report @ 9:30 am.

oil

For all the Metals and Interest rate traders, please roll out of your June positions to the deferred months. Reason? First notice of delivery is Friday,

As for Data? Core PCE and GDP estimates are worth paying attention to.

Under the Bull or Bear category.

We can trade either side of the market and prepare for volatility. On Tuesday, reach out to your broker for trading ideas. Bull or Bear, you really shouldn’t care.

Is the smoke clearing in the Mid-East and the markets have a renewed sense of confidence?

The energy and metals are swirling in the uncertainty of a lack of resolution in the attempted unwinding of the Iranian nuclear program.

Don’t let your guard down just yet, the fog continues, tune into the Sunday evening markets to witness reactions to the weekend news streams, manufactured or true.

Plan your trade and trade your plan!

Earnings Next Week:

· Mon. Quiet~Memorial Day

· Tue. Zscaler, Modine Manufacturing

· Wed. SalesForce, PDD Holdings, Agilent

· Thu. Dell, Autodesk, DollarTree

· Fri. Buckle

FED SPEECHES: (all times CDT)

· Mon. Quiet~Memorial Day

· Tues. Quiet

· Wed. Quiet

· Thu. Quiet

· Fri. Quiet

Econ Data:

· Mon. Quiet Memorial Day

· Tue. Chicago Fed Activity Index, S&P/ Case Schiller Home Price, CB Consumer Confidence, Dallas Fed Manufacturing Index, API Crude Stock Change

· Wed. ADP Employment Change Weekly, Redbook, Richmond Fed, Dallas Fed, API Crude stock Change

· Thu. Core PCE, Durable Goods, GDP Growth 2^nd estimate, Initial Jobless claims, New Home sales, EIA Nat Gas Stocks 9:30 am CDT, EIA Crude Stocks 11:00 am CDT, consumer credit change

· Fri. Retail Inventories, Wholesale Inventories, CHGO PMI, Baker Hughes Oil Rig Count

Memorial Day (Mon, May 25th) Holiday Trading Schedule:

Interest Rates

Sunday – 5:00 PM CT Open

Monday – 12:00 PM CT Halt

5:00 PM CT Re-Open

Energy

Sunday – 5:00 PM CT Open

Monday – 1:30 PM CT Halt

5:00 PM CT Re-Open

Equities

Sunday – 5:00 PM CT Open

Monday – 12:00 PM CT Halt

5:00 PM CT Re-Open

Grains

Sunday – Closed

Monday – Closed

7:00 PM CT Re-Open

FX

Sunday – 5:00 PM CT Open

Monday – 4:00 PM CT Close

5:00 PM CT Re-Open

Metals

Sunday – 5:00 PM CT Open

Monday – 1.30 PM CT Halt

5:00 PM CT Re-Open

Livestock

Monday – Closed

Tuesday 8:30 AM CT Re-Open

Dairy

Monday – Closed

5:00 PM CT Re-Open

Cryptocurrencies

Sunday – 5:00 PM CT Open

Monday – 4:00 PM CT Close

5:00 PM CT Re-Open

Sugar, Coffee, Cotton, Cocoa, FCOJ

Monday – Closed

Tuesday – Regular Hours

Canola

Monday – Regular Hours

U.S. Dollar Index

Monday – Regular Hours

Click IMAGE BELOW FOR FULL DETAILS AND LARGER IMAGE

Futures 102: The Daily Briefing by Cannon

Every morning, the world’s biggest banks and macro strategists publish where markets are headed. The rest of the world waits for the headline.

No terminals. No subscriptions. No private portals. Just everything the market is saying, gathered in one place, every morning before the bell.

Read the Latest Briefing HERE and make sure to Bookmark this page!

December Cotton

December Cotton satisfied its low percentage fourth upside PriceCount objective this month. Now, on the correction lower the chart is activating downside counts. The first objective points a possible slide to the 74.78 area.

Learn more at www.qtchartoftheday.com

FREE TRIAL TO QT MARKET Center – Access to analysis, tools, news & much more!

Highly recommended for HEDGERS!

Cannon Edge — Your Daily Futures Insight for the Next Trading Day! Cannon Edge for May 25-26th 2026

Cannon Edge is our new daily feature designed to give traders a fast, actionable overview of key futures markets. Each post delivers:

Current price and daily % change
30‑day and 52‑week highs/lows
PROPRIETARY Short‑term and long‑term trend signals
Coverage across equity indices, metals, energies, currencies, and ags

Whether you’re scanning for breakout setups, trend reversals, or just staying informed — Cannon Edge puts the data in your hands before the open.

Built for speed. Backed by insight. Powered by CQG.

Would you like to get weekly updates on real-time, results of systems mentioned above?

Daily Levels for May 25-26th 2026

Would you like to receive daily support & resistance levels?

Trading Reports for Next Week

First Notice (FN), Last trading (LT) Days for the Week:

www.mrci.com

Find us on Trustpilot

Read the Latest Briefing HERE and make sure to Bookmark this page!

Subscribe to our YouTube Channel

Listen to our podcast: Subscribe on Apple, Spotify, Amazon

or wherever you listen to podcasts!

The Week Ahead – FOMC Minutes, NVIDIA, Middle East PLUS: Trading Around Key Economic Reports FREE Online Course! Futures 102 – The Daily Briefing – What the Pros Know Before Trading, July Meal, Levels, Reports; Your 6 Important Can’t-Miss Need-To-Knows for Trading Futures the Week of May 18th, 2026

Posted on May 15, 2026 by Cannon Operations

Cannon Futures Weekly Letter

In Today’s Issue #1290

The Week Ahead – FOMC Minutes, NVIDIA, Middle East
Trading Around Key Economic Reports FREE Online Course!
Futures 102 – The Daily Briefing – What the Pros Know Before Trading
July Soymeal Chart & Outlook
Cannon Edge – Your Futures trading Map for the week ahead!
Trading Levels for Next Week
Trading Reports for Next Week

At A Glance Levels

Instrument	S2	S1	Pivot	R1	R2
Gold (GC) — June (#GC)	4419.80	4482.10	4576.10	4638.40	4732.40
Silver (SI) — July. (#SI)	70.79	73.60	78.99	81.81	87.20
Crude Oil (CL) — June. (#CL)	95.81	98.61	100.02	102.82	104.23
June Bonds (ZB) — June. (#ZB)	109 17/32	110 3/32	111 4/32	111 22/32	112 23/32

What Futures Traders Should Watch This Week

By John Thorpe, Senior Broker

Risk-off? Nvidia earnings, FOMC Minutes and a few fed speakers.

This week we have seen new highs and lower lows as the roiling markets are speaking loudly about the world we are living in.

Risk-off psychology in futures and commodity markets usually lasts a few days to a few weeks however, it can stretch to months when the catalyst is macro-level like a growth scare, a dollar spike, a geopolitical shock or a central bank surprise. In 2026, the pattern looks similar: the initial selling can be sharp, however the psychology tends to fade once the market sees either some policy support, clearer demand/supply data or improving liquidity.

Typical Duration

· Initial Shock: 1-2 days for an event driven fear

· A macro reset: 2 weeks to 2 months when traders reprice inflation, rates and growth (fog clears)

· Extended risk-off: several months to multiple quarters if the shock changes the economic outlook or affects major supply chains.

Why Risk-off can persist

When CTA’s trend followers and managed money are forced to de-lever or the dollar and interest rate yields continue to rise, money managers liquidate positions, go into cash and wait for “quiet markets before they put risk back on.

The psychology usually turns when one or a few of these events happen:

· The dollar stabilizes

· Volatility stops rising

· Physical market data show tighter supply than feared

· A geopolitical or weather shock gets priced in fully

The safest assumption is that risk off in futures and commodities is usually temporary but can occur in waves rather than ending in one clean reversal.

Some markets in the commodity universe employ a daily price limit, today was had one in the cotton market.

As of March 2026, the Intercontinental Exchange (ICE) Futures U.S. Cotton No. 2 futures contract has a standard daily price limit of 4 cents per pound (400 points) above or below the previous day’s settlement price.

Here are the key details regarding ICE Cotton daily limits:

Standard Limit: The initial daily price limit is generally 4 cents per pound.
Expansion Mechanism: If any of the first five delivery months settle at the limit, the daily price limit for all contract months expands to 5 cents per pound (500 points) on the next business day.
Maximum Potential Limit: The daily price limit can expand up to a maximum of 7 cents per pound based on, and triggered by, previous days’ limit moves.

Covering your positions with stops ot options can help reduce risks in both bull and bear markets, even if they are short lived.

Is the smoke clearing in the Mid-East and the markets have a renewed sense of confidence?

The energy and metals are swirling in the uncertainty of a lack of resolution in the attempted unwinding of the Iranian nuclear program.

Don’t let your guard down just yet, the fog continues, tune into the Sunday evening markets to witness reactions to the weekend news streams, manufactured or true.

Plan your trade and trade your plan!

Earnings Next Week:

· Mon. Quiet

· Tue. Home Depot, Keysight technologies, Toll Brothers

· Wed. Nvidia, TJX, Analog Devices, Lowes, Intuit, Target

· Thu. Walmart, Deere and Co.,

· Fri. Booze Allen Hamilton

FED SPEECHES: (all times CDT)

· Mon. 7:30am Venable

· Tues. 8:00 am Waller, 6:00pm Paulson, 6:30pm Venable

· Wed. 7:00am Paulson, 9:15 am Barr, FOMC Minutes release (no speech) 1:00pm

· Thu. Quiet

· Fri. 10:00am Waller

Econ Data:

· Mon. NY Fed. Svcs. Activity, NAHB Housing market Index

· Tue. Redbook, Pending Home Sales, API Crude Stock Change

· Wed. MBA Mortgage EIA Crude stocks, FOMC Minutes

· Thu. Building Permits, Housing Starts, Initial Jobless claims, Philly Fed, PMI Flash, KC Fed, Nat Gas Stocks, Fed Balance Sheet

· Fri. Michigan Consumer Sentiment, Baker Hughs Oil Rig Count

Learn about Key Economic Events

As a trader, you will come across many factors that you must consider before entering or exitin

GDP?

NFP?

Housing Data?

CPi? PPI?

Home Sales?

and much more….

START the FREE online course NOW

Futures 102: The Daily Briefing by Cannon

Every morning, the world’s biggest banks and macro strategists publish where markets are headed. The rest of the world waits for the headline.

This briefing changes that ( 100% FREE on Cannon’s website!!). Every morning we scour the open web and aggregate everything that matters — pulling from publicly available sources so you never have to — and distill it into one clear, readable edition you can get through before your first coffee is finished.

No terminals. No subscriptions. No private portals. Just everything the market is saying, gathered in one place, every morning before the bell.

July Meal

July Meal has extended its rally into a new recent high where the chart is completing it’s second upside PriceCount objective, consistent with a challenge of the November high. It would be normal to get a near term reaction from this level in the form of a consolidation or corrective trade. At this point, IF the chart can break out and sustain new highs, the third count would project a possible run to the $365 area.

Learn more at www.qtchartoftheday.com

FREE TRIAL TO QT MARKET Center – Access to analysis, tools, news & Much more!

Highly recommended for HEDGERS!

Cannon Edge — Your Daily Futures Insight for the Next Trading Day! Cannon Edge for May 18th 2026

Cannon Edge is our new daily feature designed to give traders a fast, actionable overview of key futures markets. Each post delivers:

Current price and daily % change
30‑day and 52‑week highs/lows
PROPRIETARY Short‑term and long‑term trend signals
Coverage across equity indices, metals, energies, currencies, and ags

Whether you’re scanning for breakout setups, trend reversals, or just staying informed — Cannon Edge puts the data in your hands before the open.

Built for speed. Backed by insight. Powered by CQG.

Would you like to get weekly updates on real-time, results of systems mentioned above?

Daily Levels for May 18th, 2026

Would you like to receive daily support & resistance levels?

Trading Reports for Next Week

First Notice (FN), Last trading (LT) Days for the Week:

www.mrci.com

Find us on Trustpilot

Read the Latest Briefing HERE and make sure to Bookmark this page!

Subscribe to our YouTube Channel

Listen to our podcast: Subscribe on Apple, Spotify, Amazon

or wherever you listen to podcasts!

WASDE, CPI, PPI, Fed speakers, earnings PLUS: Trading Psychology 19 Minutes FREE online Course! Futures 102 – The Daily Briefing – What The Pros Know Before Trading, Brazilian Real Chart & Outlook Cannon Edge, Levels & Reports; Your 7 Important Can’t-Miss Need-To-Knows before Trading Futures the Week of May 11th, 2026

Posted on May 8, 2026 by Cannon Operations

Cannon Futures Weekly Letter

In Today’s Issue #1289

The Week Ahead – WASDE, CPI, PPI
Trading Psychology 19 Minutes FREE online Course!
Futures 102 – The Daily Briefing – What The Pros Know Before Trading
Brazilian Real Chart & Outlook
Cannon Edge – Your Futures trading Map for the week ahead!
Trading Levels for Next Week
Trading Reports for Next Week

At A Glance Levels

Instrument	S2	S1	Pivot	R1	R2
Gold (GC) — June (#GC)	4631.97	4682.33	4721.37	4771.73	4810.77
Silver (SI) — July. (#SI)	77.02	79.04	80.60	82.62	84.18
Crude Oil (CL) — June. (#CL)	90.89	92.79	95.71	97.61	100.53
June Bonds (ZB) — June. (#ZB)	112 23/32	113 4/32	113 16/32	113 29/32	114 9/32

What Futures Traders Should Watch This Week

By John Thorpe, Senior Broker

WASDE, CPI, PPI, a few Fed speakers and light earnings.

cpi

There is an oft heard adage this time of year. “Sell in May and go Away”

This reference to stocks maybe out dated to avoid historically lower returns and volatility during the summer, returning in November. While based on long-term data (1945–2026) showing weaker performance in the May–October period, it is considered outdated as stocks often still rise during these months. In the age of AI-driven markets and global investing, this strategy is less relevant. For instance, in the last decade, the May–October period has seen a more robust 7% rise.

Risks of Timing: Investors who sell in May risk missing out on significant gains, as markets have recorded positive summer returns in 38 of the last 50 years.

Under the Bull or Bear category.

We can trade either side of the market and prepare for volatility. On Monday, reach out to your broker for trading ideas. Bull or Bear, you really shouldn’t care.

Tuesday’s WASDE (World Agriculture Supply Demand Estimates) report will now be coming more impactful to pricing in the commodity markets than they have previously been during the recent seasonal cycles.

South American crops should largely be in the bins and round 1 for North American crops, for the most part, are in the ground with exceptions, I would also suggest, the timing of this report coincides with “weather market” volatility. The May 12 WASDE is expected to be the first official look at the 2026/27 crop year, and the main focus is likely to be corn, soybeans, and wheat.

According to www.agriculture.com as of May 3^rd (the most recent data)

 Corn and soybean planting is ahead of the five-year average, with 38% of corn and 33% of soybeans planted.

 Winter wheat is progressing well, with 49% headed, but crop conditions remain weaker than last year.

 Spring wheat planting lags slightly behind the five-year average, while oat planting is on track with historical trends.

For a change of pace

Key Differences between CPI and PPI to Monitor

PPI (Producer Perspective): Measures selling prices received by producers (wholesale), which acts as a short-term precursor to CPI. It often highlights inflationary pressures on the supply side.
CPI (Consumer Perspective): Measures prices paid by consumers (retail). It includes imports and sales taxes, unlike the PPI

Consensus Forecasts (Mid-2026) (per TradingEconomics)

April 2026 CPI: Forecasts suggest a +0.7% m/m surge in headline, with core rising to 2.7% y/y.
March 2026 Data: As of the latest official report, YoY CPI was 3.3% and PPI was 4.0%.
2026 Forecasts: Some projections for December 2026 have been raised to 3.0% y/y for headline CPI and 2.6% y/y for core.

Is the smoke clearing in the Middle East and the markets have a renewed sense of confidence?

The energy and metals are swirling in the uncertainty of a lack of resolution in the attempted unwinding of the Iranian nuclear program.

Don’t let your guard down just yet, the fog continues, tune into the Sunday evening markets to witness reactions to the weekend news streams, manufactured or true.

Of note next week with WASDE looming Tuesday. a few key economic data points to watch CPI is the biggest. Earnings this week continues, albeit at a very light 7^th inning, Plan your trade and trade your plan!

Earnings Next Week:

· Mon. Constellation Energy

· Tue. Zebra Technologies, Masimo

· Wed. Tencent

· Thu. Applied Materials, Ross Stores

· Fri. Quiet

FED SPEECHES: (all times CDT)

· Mon. Quiet

· Tues. 2:15 am Williams, 12:00 Goolsbee,

· Wed. 10:30am Collins 12:15 pm Kashkari, 6:00 pm Logan

· Thu. 12:00 Hammack, 4:45 Williams, 6:00 pm Barr

· Fri. quiet

Econ Data:

· Mon. Existing HomeSales,

· Tue. ADP Weekly, CPI, Redbook, WASDE, API Crude Stock Change

· Wed. PPI, EIA Crude stocks

· Thu. Initial Jobless claims, Retail Sales, Business inventories Nat Gas Stocks, consumer credit change

· Fri. NY Empire State Mfg. Index, NOPA Crush Report, Baker Hughs Oil Rig Count

Many experienced traders say that the stiffest challenge you’ll face in becoming a futures trader is conquering your own psyche.

Why?

Because losing is part of trading, and people hate to lose.

Futures 102: The Daily Briefing by Cannon

Every morning, the world’s biggest banks and macro strategists publish where markets are headed. The rest of the world waits for the headline.

This briefing changes that ( 100% FREE on Cannon’s website!!). Every morning we scour the open web and aggregate everything that matters — pulling from publicly available sources so you never have to — and distill it into one clear, readable edition you can get through before your first coffee is finished.

No terminals. No subscriptions. No private portals. Just everything the market is saying, gathered in one place, every morning before the bell.

Brazilian Real

The Weekly Brazilian Real is approaching its second upside PriceCount objective. It would be normal to get a reaction from this level in the form of a consolidation or corrective trade. IF the chart can sustain further strength, the third count would project a potential run to the .22663 area, an 11.6% increase from today’s price.

Learn more at www.qtchartoftheday.com

FREE TRIAL TO QT MARKET Center – Access to analysis, tools, news & Much more!

Highly recommended for HEDGERS!

Cannon Edge — Your Daily Futures Insight for the Next Trading Day! Cannon Edge for May 11th 2026

Cannon Edge is our new daily feature designed to give traders a fast, actionable overview of key futures markets. Each post delivers:

Current price and daily % change
30‑day and 52‑week highs/lows
PROPRIETARY Short‑term and long‑term trend signals
Coverage across equity indices, metals, energies, currencies, and ags

Whether you’re scanning for breakout setups, trend reversals, or just staying informed — Cannon Edge puts the data in your hands before the open.

Built for speed. Backed by insight. Powered by CQG.

Would you like to get weekly updates on real-time, results of systems mentioned above?

Daily Levels for May 11th, 2026

Would you like to receive daily support & resistance levels?

Trading Reports for Next Week

First Notice (FN), Last trading (LT) Days for the Week:

www.mrci.com

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NFP & Middle East, First Notice & Last Trading Days for May 2026, Video Trading Tip of the Week, Futures 102 – New, Exciting Tools for Cannon’s Clients! Feeder Cattle Chart & Outlook, Cannon Edge Snapshot, Levels, Reports; Your Important Can’t-Miss Need-To-Knows for Trading Futures the Week of May 4th, 2026

Posted on May 1, 2026 by Cannon Operations

Cannon Futures Weekly Letter

In Today’s Issue #1288

The Week Ahead – NFP & Middle East
First Notice & Last Trading Days for May 2026
Video Trading Tip of the Week
Futures 102 – New, Exciting Tools for Cannon’s Clients!
Feeder Cattle Chart & Outlook
Cannon Edge – Your Futures trading Map for the week ahead!
Trading Levels for Next Week
Trading Reports for Next Week

At A Glance Levels

Instrument	S2	S1	Pivot	R1	R2
Gold (GC) — June (#GC)	4518.43	4569.87	4621.43	4672.87	4724.43
Silver (SI) — July. (#SI)	71.53	73.71	75.62	77.80	79.71
Crude Oil (CL) — June. (#CL)	95.36	98.76	102.71	106.11	110.06
June Bonds (ZB) — June. (#ZB)	112 10/32	112 23/32	113 4/32	113 17/32	113 30/32

What Futures Traders Should Watch This Week – NFP, Middle East

By John Thorpe, Senior Broker

nfp

Non-Farm Payrolls (NFP) Friday!

There is an oft heard adage this time of year. “Sell in May and go Away”

This reference to stocks may be outdated to avoid historically lower returns and volatility during the summer, returning in November. While based on long-term data (1945–2026) showing weaker performance in the May–October period, it is considered outdated as stocks often still rise during these months. In the age of AI-driven markets and global investing, this strategy is less relevant. For instance, in the last decade, the May–October period has seen a more robust 7% rise.

Risks of Timing:

Investors who sell in May risk missing out on significant gains, as markets have recorded positive summer returns in 38 of the last 50 years.

Is the smoke clearing in the Mid-East and the markets have a renewed sense of confidence?

The markets are swirling in the uncertainty of a lack of resolution in the attempted unwinding of the Iranian nuclear program.

UAE Exits OPEC May 1st

The United Arab Emirates, effective May 1^st, will no longer be an OPEC member. This is important to understand the ramifications for Crude oil and the pressing realignment under foot in the middle east and the world. Here is a fine article discussing some of the ramifications of this decision by the Emiratis. “a long time coming” How to understand the UAE’s decision to leave OPEC

Don’t let your guard down just yet, the fog continues, tune into the Sunday evening markets to witness reactions to the weekend news streams, manufactured or true.

Of note next week NFP with a few key economic data points to watch. Earnings this week continues, setting up for a very interesting picture for our stock indices. Plan your trade and trade your plan!

Earnings Next Week:

· Mon. Berkshire Hathaway, Palantir, Diamondback Energy, Tyson Foods

· Tue. HSBC Holdings, Advanced Micro Devices, Pfizer, Duke Energy, KKR

· Wed. Disney, Uber, Marriott, CVS, Doordash, Johnson Controls

· Thu. McDonalds, Gilead Sciences, Monster Bev, AirBnB, Motorola

· Fri. Quiet

FED SPEECHES: (all times CDT)

· Mon. 11:50 am Williams

· Tues. 11:30 am Barr

· Wed. 12:00 Goolsbee, 12:30 pm Hammack

· Thu. 2:30 Williams

· Fri. 4:45 am Cook, 6:30 pm Bowman, Daly, Goolsbee and Waller

Econ Data:

· Mon. Building Permits,

· Tue. Balance of Trade, Redbook, ISM Services. PMI, JOLTS, New home sales

· ADP Weekly, API Crude Stock Change

· Wed. ADP Employment Change, Treasury Refunding, EIA Crude stocks

· Thu. Initial Jobless claims, Used Car, Construction spending, Nat Gas Stocks, consumer credit change

· Fri. NON-FARM PAYROLLS, Michigan consumer sentiment, Baker Hughs Oil Rig Count

FN & LT for May – First Notice & Last Trading Days

Add price confirmation workflow for signal-based intraday trading – watch video below

Futures 102: The Daily Briefing by Cannon

Every morning, the world’s biggest banks and macro strategists publish where markets are headed. The rest of the world waits for the headline.

From the morning calls at Goldman Sachs and JPMorgan, to the independent macro voices moving markets, to the reporters who break desk leaks first — it’s all here, every day, in plain language.

No terminals. No subscriptions. No private portals. Just everything the market is saying, gathered in one place, every morning before the bell.

Read the Latest Briefing HERE and make sure to Bookmark this page!

August Feeder Cattle

August feeder cattle are challenging the April high and threatening to resume the rally. New sustained highs would project a run to the second upside PriceCount objective to the 386.62 area.

Learn more at www.qtchartoftheday.com

FREE TRIAL TO QT MARKET Center – Access to analysis, tools, news & Much more!

Highly recommended for HEDGERS!

Cannon Edge — Your Daily Futures Insight for the Next Trading Day! Cannon Edge for May 4th 2026

Cannon Edge is our new daily feature designed to give traders a fast, actionable overview of key futures markets. Each post delivers:

Current price and daily % change
30‑day and 52‑week highs/lows
PROPRIETARY Short‑term and long‑term trend signals
Coverage across equity indices, metals, energies, currencies, and ags

Whether you’re scanning for breakout setups, trend reversals, or just staying informed — Cannon Edge puts the data in your hands before the open.

Built for speed. Backed by insight. Powered by CQG.

Would you like to get weekly updates on real-time, results of systems mentioned above?

Daily Levels for May 4th, 2026

Would you like to receive daily support & resistance levels?

Trading Reports for Next Week

First Notice (FN), Last trading (LT) Days for the Week:

www.mrci.com

Find us on Trustpilot