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Bull Markets hanging in there amid 200-day SMA, December Bean Oil, Levels, Reports (!); Your 4 Important Can’t-Miss Need-To-Knows for Trading Futures on November 19th, 2025

Posted on November 18, 2025 by Cannon Operations

200-day Simple Moving Average (200-day SMA)

The Bull Market at Large

By John Thorpe, Senior Broker

At-a-Glance Levels

Instrument	S2	S1	Pivot	R1	R2
Gold (GC) — Dec (GCZ5)	3964.07	4017.03	4050.37	4103.33	4136.67
Silver (SI) — Dec (SIZ5)	48.35	49.51	50.27	51.43	52.19
Crude Oil (CL) — Dec (CLZ5)	58.67	59.68	60.26	61.27	61.85
Dec. Bonds (ZB) — Dec (ZBZ5)	116 1/32	116 12/32	116 26/32	117 5/32	117 19/32

Bulls are surviving…. For now.

Financial news networks and pundits are repeating “Bubble” due to the recent sell off in equities, “AI Bubble” Google boss Pichai “AI investment boom has elements of irrationality., “No Firm immune!” Bob Michele, JPMorgan’s Chief Investment Officer, discusses lessons learned from the Dot.com bubble. Warning shots to be certain and perhaps the market is ripe for a change in tenor.

Rather than a blow the doors off rally or a sideways market (you can make a case the S&P 500 index has been trading in a range since mid-Sep.)

Where is the demarcation line that tells us we are in a Bear market? We are still in a Bull market so I thought I would do a deep dive into the technical indicator that has provided traders with meaningful support for a continuation of a Bull market. Or, once crossed, the resistance and the tenor of a Bear market.

The 200-day Simple Moving Average (200-day SMA) is one of the most widely watched technical indicators in global financial markets, especially for the S&P 500. Its importance comes from a combination of institutional usage, psychological reinforcement, and historical track record. Here’s why it matters so much:

Quick Historical Examples

March 2020: S&P crashed below 200-day → confirmed bear market → trillions in systematic selling.
October 2022: Reclaimed the 200-day SMA → signaled new bull market → +45% rally since.
2025 so far: Multiple tests of the rising 200-day were bought aggressively, reinforcing its role as dynamic support.

Bottom Line

The 200-day SMA is not magic, but because so many large players watch it and trade it, it has become one of the most important price levels on the chart. For the S&P 500 right now (November 2025), staying above ≈6,150–6,200 keeps the long-term bull market intact. A sustained break below would be a major warning signal that the character of the market has changed.

Where is the 200 Day today?

As of November 18, 2025 (using the most recent market close on November 17, 2025, as markets are closed over the weekend), the 200-day simple moving average (SMA) for the S&P 500 index is 6,151.63. This value reflects a slight increase of +3.16 (+0.05%) from the prior day, driven by the index’s ongoing bull market momentum.

For context:

The S&P 500 closed at 6,672.41 on November 17, trading well above its 200-day SMA (a bullish signal, as the index is approximately 8.5% higher).
The 200-day SMA is a widely used long-term trend indicator, calculated as the average closing price over the past 200 trading days.

Mini SP daily chart with the 200 simple moving average below for review!

Plan your trade, trade your plan!

December Bean Oil

December bean oil is breaking out above the fall highs and is attempting to shift the chart formation back to the topside. The chart has confirmed the first upside PriceCount objective. If the chart can break out and sustain trade above the downtrend and 100 dma, the second count would project a move up to the 53.60 area.

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.

Daily Levels for Nov. 19th, 2025

Want to feature our updated trading levels on your website? Simply paste a small code, and they’ll update automatically every day!

Click here for quick and easy instructions.

Economic Reports

U.S. government data may be impacted by the shutdown. ‘Tentative’ events are subject to delay, revision, or cancellation

provided by: ForexFactory.com

All times are Central Time ( Chicago)

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.

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Zero-DTE Options: Pros v. Cons, January Lumber, Levels, Reports; Your 5 Important, Can’t-Miss Need-To-Knows for Trading Futures on November 18th, 2025

Posted on November 17, 2025 by Cannon Operations

Zero-DTE Options

by Ilan Levy-Mayer, VP

At-a-Glance Levels

Instrument	S2	S1	Pivot	R1	R2
Gold (GC) — Dec (GCZ5)	3950.57	3995.13	4051.37	4095.93	4152.17
Silver (SI) — Dec (SIZ5)	48.38	49.17	50.14	50.94	51.91
Crude Oil (CL) — Dec (CLZ5)	58.65	58.18	59.74	60.27	60.83
Dec. Bonds (ZB) — Dec (ZBZ5)	116	116 11/32	116 22/32	117 1/32	117 12/32

Zero-DTE Options: Leveraging CME Liquidity in Volatile Markets

Recent volatility and sharp intraday swings in stock index futures and metals have created unique opportunities for active traders – possibly as an alternative for using futures with a stop loss. One increasingly popular tool for navigating these conditions is Zero-DTE (Zero Days to Expiration) options, available on CME Group’s deep and liquid markets.

What Are Zero-DTE Options?

Zero-DTE options are contracts that expire on the same day they are traded. CME Group offers same-day expiring options on major benchmarks like E-mini S\&P 500, Nasdaq-100, and key metals futures. These instruments allow traders to capitalize on short-term price action while avoiding overnight risk.

Advantages of Using CME Zero-DTE Options

Access to Benchmark Liquidity: CME Group provides unmatched liquidity in index and metals options, ensuring efficient execution even during volatile sessions.
Defined Risk Profiles for LONG options: LONG Options allow traders to manage exposure with clear maximum loss, unlike outright futures positions.
Strategic Flexibility: Ideal for intraday hedging, directional plays, or advanced strategies like spreads and iron condors.
Capital Efficiency: Lower upfront cost compared to futures, with margin benefits when combined with CME futures positions.

Key Considerations

Rapid Time Decay: With only hours to expiration, options lose value quickly if the market doesn’t move as anticipated.
Gamma Sensitivity: Price changes in the underlying can lead to significant swings in option value.
Execution Discipline: Liquidity is strong, but spreads can widen near expiration—precision matters.
Risk Management: Fast-moving markets require a clear plan and strict controls.

Consult with a Broker

Zero-DTE options on CME Group products can be powerful tools for active traders, but they require knowledge and discipline. Our experienced brokers can help you evaluate strategies, manage risk, and take full advantage of CME’s liquidity and product depth. Contact us today to learn more.

✅ Schedule a one on one No Obligation Broker Consultation

January Lumber

January Lumber is completing the third downside PriceCount objective. It would be normal to get a near term reaction from this level in the form of a consolidation or corrective trade, at least. At this point, IF the chart can sustain another leg down, we are left with the low percentage fourth count to aim for in the 454 area.

Daily Levels for Nov. 18th, 2025

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Economic Reports

U.S. government data may be impacted by the shutdown. ‘Tentative’ events are subject to delay, revision, or cancellation

provided by: ForexFactory.com

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Every Major Type of Futures Trading Explained: From Day Trading to Algorithmic Strategies

Posted on November 13, 2025November 13, 2025 by Cannon Operations

futures trading

Futures Trading

futures trading

Futures markets are dynamic arenas where traders speculate, hedge, and invest across commodities, indices, currencies, and more. The approaches to futures trading are as diverse as the markets themselves — ranging from fast-paced day trading to long-term position trading, and from discretionary methods to cutting-edge algorithmic systems.

In this article, we’ll explore every major type of futures trading in detail — what defines each, how they work, and which styles suit different trader profiles. Whether you’re just starting trading in futures or already deep into advanced automation, understanding these approaches can help refine your strategy and results.

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1. Day Trading Futures

Definition:
Day trading in futures is all about capitalizing on intraday price movements. Traders buy and sell contracts within the same session, closing all positions before the market ends.

Core Features:

Positions are opened and closed within minutes or hours.
Traders rely heavily on real-time technical analysis and order flow.
High-frequency decision-making and execution speed are critical.

Common Methods:

Scalping: Executing numerous small trades to profit from tiny price moves.
Momentum trading: Entering trades during strong directional pushes.
Breakout trading: Acting when prices breach key levels of support or resistance.

Advantages:

No overnight risk from global market gaps.
Highly liquid markets like E-mini S&P 500, crude oil, and gold offer tight spreads.

Risks:

Requires precision and emotional discipline.
Frequent trades can lead to higher commissions and fatigue.

Ideal for: Traders who thrive in fast-paced environments and use advanced platforms for futures trading execution.

2. Swing Trading Futures

Definition:
Swing traders hold futures positions for several days or weeks, seeking to capture short- to mid-term trends rather than intraday volatility.

Core Features:

Combines technical and fundamental analysis.
Positions last long enough to benefit from established market swings.
Traders use stop-loss and profit targets wider than those of day traders.

Techniques:

Trend-following with moving averages.
Retracement or reversal entries using Fibonacci levels.
Chart patterns like triangles or head-and-shoulders setups.

Advantages:

Fewer trades and less screen time.
Potential to capture larger percentage moves in price.

Risks:

Overnight gaps can affect performance.
Requires patience and strong risk management.

Ideal for: Professionals who cannot monitor markets constantly but still want meaningful participation in trading in futures.

3. Position Trading Futures

Definition:
Position trading involves holding futures contracts for weeks, months, or even longer — targeting large, fundamental price trends.

Core Features:

Focus on macroeconomic factors, such as interest rates, supply-demand cycles, and global sentiment.
Traders often “roll over” expiring contracts to maintain exposure.

Techniques:

Fundamental trend analysis using global data.
COT (Commitment of Traders) reports for institutional sentiment.
Seasonal trading in commodities (e.g., grains, natural gas).

Advantages:

Big reward potential from major market cycles.
Less emotional decision-making due to long-term perspective.

Risks:

High margin requirements.
Prolonged exposure to market and policy shifts.

Ideal for: Investors and institutions involved in strategic futures trading over macroeconomic cycles.

4. Algorithmic (Algo) Futures Trading

Definition:
Algorithmic trading, or “algo trading,” uses computer programs to automatically execute trades based on coded strategies.

Core Features:

Removes emotional bias and executes trades at machine speed.
Can scan multiple markets simultaneously.
Commonly used by funds and proprietary firms.

Popular Models:

Trend-following algos: Ride sustained market momentum.
Mean reversion systems: Bet on prices reverting to their average.
Arbitrage algorithms: Exploit price discrepancies across exchanges.

Advantages:

High accuracy and backtesting capability.
Round-the-clock monitoring of global markets.

Risks:

Model errors or faulty data can trigger rapid losses.
Requires technical expertise and system maintenance.

Ideal for: Quantitative traders, developers, and firms embracing automation in trading futures.

5. Systematic Futures Trading

Definition:
Systematic trading relies on a set of predetermined rules and quantitative models to generate trade signals. It’s the foundation for most professional futures trading systems.

Core Features:

Fully rule-based decision-making process.
Can be executed manually or automatically.

Examples of Systems:

Moving average crossovers.
Volatility breakout strategies.
Trend channel trading.

Advantages:

Removes emotion from trading.
Backtestable and easy to scale across instruments.

Risks:

Performance can deteriorate when markets shift regimes.
Requires periodic optimization and review.

Ideal for: Traders seeking long-term consistency and structure in trading in futures.

6. Discretionary Futures Trading

Definition:
Discretionary traders use experience, intuition, and interpretation rather than fixed systems to make trading decisions.

Core Features:

Combines technical setups, market news, and sentiment analysis.
Entry and exit decisions are made manually.

Advantages:

Highly flexible; allows adaptation to unique market conditions.
Intuitive recognition of patterns beyond algorithmic logic.

Risks:

Emotional decisions may lead to inconsistency.
Hard to backtest or delegate.

Ideal for: Experienced individuals who have mastered their emotional discipline and chart interpretation.

7. Spread Trading Futures

Definition:
Spread trading involves taking offsetting long and short positions in related futures contracts to profit from price differentials rather than outright price direction.

Common Types:

Calendar spreads: Buying one month’s contract and selling another.
Inter-market spreads: Trading two correlated commodities (e.g., long corn, short wheat).
Inter-exchange spreads: Arbitrage between exchanges.

Advantages:

Lower volatility than directional trades.
Smaller margin requirements.

Risks:

Narrow profit potential.
Spread relationships can widen unexpectedly.

Ideal for: Intermediate traders who prefer lower-risk strategies in futures trading.

8. High-Frequency Futures Trading (HFT)

Definition:
HFT uses ultra-fast algorithms and low-latency connections to capture small price inefficiencies in milliseconds.

Core Features:

Focused on microstructure of markets.
Executes thousands of trades per day.

Advantages:

Tiny profits magnified by massive volume.
Minimal human involvement.

Risks:

High infrastructure costs.
Dependent on technological edge and regulation.

Ideal for: Institutional participants and prop firms equipped with advanced connectivity.

9. Hedging Futures Trading

Definition:
Hedging uses futures contracts to protect against unfavorable price movements in physical assets or investment portfolios.

Examples:

A farmer sells corn futures to lock in harvest prices.
A fund buys S&P 500 futures to hedge equity exposure.

Advantages:

Reduces risk and stabilizes returns.
Allows better financial planning.

Risks:

Limits upside potential.
Requires accurate hedge ratio calculation.

Ideal for: Commercial entities and portfolio managers mitigating exposure through trading futures.

10. Quantitative Futures Trading

Definition:
Quantitative trading combines mathematics, statistics, and machine learning to design predictive trading models.

Core Features:

Data-driven; uses historical and real-time data for optimization.
Often overlaps with algorithmic and systematic strategies.

Advantages:

Objective, scalable, and research-based.
Enables diversification across markets.

Risks:

Models can fail in extreme volatility or low liquidity.
Requires continuous validation.

Ideal for: Data scientists and institutional desks focused on predictive futures trading models.

11. News-Based Futures Trading

Definition:
News-based traders act on price volatility triggered by economic releases, earnings, or geopolitical events.

Core Features:

Short-term trading around announcements (like CPI, FOMC, or inventory data).
Relies on fast execution and market awareness.

Advantages:

High potential during volatility bursts.
Can be automated for event-based responses.

Risks:

Slippage and widening spreads can occur.
Requires speed and timing precision.

Ideal for: Traders with access to fast data feeds and economic calendars.

12. Arbitrage Futures Trading

Definition:
Arbitrage exploits pricing inefficiencies between related instruments or markets to generate low-risk profits.

Examples:

Cash-and-carry arbitrage: Buying spot and selling futures when futures trade above fair value.
Statistical arbitrage: Pair trading correlated instruments.

Advantages:

Low directional exposure.
Reliable when opportunities exist.

Risks:

Execution delay can erase profit margin.
Rare opportunities in highly efficient markets.

Ideal for: Institutional or quantitative traders with robust execution infrastructure.

13. Social and Copy Futures Trading

Definition:
A modern trend in trading in futures, social or copy trading allows users to replicate trades of experienced professionals through integrated brokerage platforms.

Core Features:

Leverages collective insights.
Provides learning opportunities for beginners.

Advantages:

Easier entry point for new traders.
Real-time exposure to proven strategies.

Risks:

Over-reliance on others’ decisions.
Results depend entirely on chosen signal providers.

Ideal for: New traders looking to learn futures trading while participating in live markets.

Choosing the Right Futures Trading Style

Each method of trading futures comes with distinct benefits and challenges. The key is matching your capital, risk tolerance, and lifestyle to the right approach.

Trading Style	Holding Period	Main Tools	Best For
Day Trading	Minutes–Hours	Charts, order flow	Active traders
Swing Trading	Days–Weeks	Technical + Fundamental	Balanced traders
Position Trading	Weeks–Months	Macroeconomics	Long-term investors
Algorithmic / Systematic	Milliseconds–Days	Data models	Quant traders
Discretionary	Variable	Experience + Intuition	Veteran traders
Spread / Hedging	Weeks–Months	Correlation analysis	Risk managers
Arbitrage / Quantitative	Seconds–Days	Statistical models	Institutions

The best strategy often blends multiple approaches — for example, combining systematic entry rules with discretionary exits, or using algo-driven signals to refine swing trades. The diversity of trading in futures strategies is what makes the market both challenging and rewarding.

The Power of Strategy in Futures Trading

Success in futures trading doesn’t come from predicting every market move but from developing a structured plan and following it with consistency. The type of strategy you choose defines your routine, tools, and mindset.

Whether you prefer the adrenaline of day trading, the structure of systematic models, or the depth of position trading, remember that risk management and discipline are the true foundations of profitable trading in futures.

Start Trading Futures with Cannon Trading Company

futures trading

For over 35 years, Cannon Trading Company has been a trusted name in the U.S. futures industry — offering access to powerful platforms, transparent pricing, and personalized support. Whether you’re exploring algorithmic trading, discretionary trading in futures, or professional futures trading for hedging and speculation, Cannon Trading’s experienced brokers and platform variety help you trade smarter and safer.

Explore the next level of trading futures with tailored brokerage solutions, competitive margins, and dedicated customer service — all under one roof.

Open a Futures Trading Account with Cannon Trading Company and experience the difference that expertise and technology make.

Ready to start trading futures? Call us at 1(800)454-9572 (US) or (310)859-9572 (International), or email info@cannontrading.com to speak with one of our experienced, Series-3 licensed futures brokers and begin your futures trading journey with Cannon Trading Company today.

Disclaimer: Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involve substantial risk of loss and are not suitable for all investors. Past performance is not indicative of future results. Carefully consider if 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.

Important: Trading commodity futures and options involves a substantial risk of loss. The recommendations contained in this article are opinions only and do not guarantee any profits. This article is for educational purposes. Past performances are not necessarily indicative of future results.

This article has been generated with the help of AI Technology and modified for accuracy and compliance.

Follow us on all socials: @cannontrading

FNDLTD! First Notice Last Trading Days, December Wheat, NEW WEBINAR, Levels, Reports; Your 5 Important Must-Knows for Trading Futures on November 4th, 2025

Posted on November 3, 2025 by Cannon Operations

Wheat Outlook, First Notice Days & Last Trading Days (FNDLTD)

At-a-Glance Levels

Instrument	S2	S1	Pivot	R1	R2
Gold (GC) — Dec (GCZ5)	3940.30	3981.10	4012.10	4052.90	4083.90
Silver (SI) — Dec (SIZ5)	47.14	47.60	48.22	48.67	49.29
Crude Oil (CL) — Dec (CLZ5)	60.01	60.51	61.00	61.50	61.99
Dec. Bonds (ZB) — Dec (ZBZ5)	116 19/32	116 29/32	117 8/32	117 18/32	117 29/32

FNDLTD:

fndltd

Below are the contracts which are entering First Notice or Last Trading Day (FNDLTD) for November.

Be advised, the contracts below are deliverable. It is requested that all LONG positions be exited two days prior to First Notice and ALL positions be exited the day prior to Last Trading Day.

Cash Settled

Below are the contracts which are cash settled for November.

December Wheat

December wheat satisfied the third upside PriceCount objective off the October low. It would be normal for the chart to get a near term reaction in the form of a consolidation or corrective trade form this level, at least. IF you can sustain further upside, we are left with a low percentage fourth count to aim for in the 5.97 area.

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.

Daily Levels for Nov. 4th, 2025

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Economic Reports

U.S. government data may be impacted by the shutdown. ‘Tentative’ events are subject to delay, revision, or cancellation

provided by: ForexFactory.com

All times are Central Time ( Chicago)

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Trading Classification for Beginners, December Dollar Index, NEW Webinar Nov. 12th, Levels, Reports; Your 5 Important Must-Knows for Trading Futures on October 31st, 2025

Posted on October 30, 2025 by Cannon Operations

Classify the Trading Day

By Ilan Levy-Mayer, VP

At-a-Glance Levels

Instrument	S2	S1	Pivot	R1	R2
Gold (GC) — Dec (GCZ5)	3886.53	3961.37	3999.93	4074.77	4113.33
Silver (SI) — Dec (SIZ5)	46.47	47.59	48.21	49.33	49.95
Crude Oil (CL) — Dec (CLZ5)	59.07	59.66	60.22	60.81	61.37
Dec. Bonds (ZB) — Dec (ZBZ5)	116 28/32	117 8/32	117 22/32	118 2/32	118 16/32

Classify the trading day — quick guide for beginners

trading

Knowing the day type early helps you pick the right strategy: fade on choppy days, trend-follow on volatile days, and use spreads or small size on mixed/news days.

Simple pre-open checks (do these first)

Gap size: big gap → possible trend; small gap → likely chop.
Pre-market volume: heavy and one-sided → continuation bias; thin → false breaks.
News: major headlines → higher odds of volatility.
Correlated markets: bonds, oil, FX aligned with equities → directional day.

First 15 minutes checks

Open auction: clean one-sided auction + follow-through → trending; repeated rejections → choppy.
VWAP action: price runs away from VWAP → trend; price crossing VWAP repeatedly → mean reversion.
Open range vs ATR: open range large vs ATR → favor momentum; small → favor range trades.

Fast decision rules

If 3+ trending signals → use breakout/momentum play with trailing stop.
If 3+ non-trending signals → use small targets, fade to VWAP/open range.
If mixed or headline-driven → cut size, use same‑day options or trade spreads.

Beginner checklist (60 seconds)

Gap: big / small.
Pre-market volume: heavy / thin.
News present: yes / no.
First 15 min: follow-through / oscillation.
If majority = trend → trend plan. If majority = chop → fade plan.

Start small, follow these checks every morning, and track which signals worked so you can refine thresholds over time.

Dec. Dollar Index

The December dollar index completed its second upside PriceCount objective to the 99.60 level which is consistent with a challenge of the August reversal high. If the chart can break out from here with new sustained highs, the third count would project a possible run to the 101.395 area.

Daily Levels for Oct. 30th, 2025

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Economic Reports

U.S. government data may be impacted by the shutdown. ‘Tentative’ events are subject to delay, revision, or cancellation

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Second Interest Rate Cut, December Cotton, Levels, Reports; Your 4 Critical Need-To-Knows for Trading Futures on October 30th, 2025

Posted on October 29, 2025October 29, 2025 by Cannon Operations

What You Need to Know Before Trading Futures Tomorrow!

By Mark O’Brien, Senior Broker

At-a-Glance Levels

Instrument	S2	S1	Pivot	R1	R2
Gold (GC) — Dec (GCZ5)	3861.93	3910.07	3978.13	4026.27	4094.33
Silver (SI) — Dec (SIZ5)	46.01	46.69	47.60	48.28	49.19
Crude Oil (CL) — Dec (CLZ5)	59.02	59.67	60.34	60.99	61.66
Dec. Bonds (ZB) — Dec (ZBZ5)	117 7/32	117 20/32	118 13/32	118 26/32	119 19/32

interest

Interest Rates

It wasn’t even apparent during Chair Jerome Powell’s post-announcement news conference what triggered the price jolts in several of the futures markets this afternoon – including a ±50-point decline in the E-mini S&P 500 and a ±200-point decline in the E-mini Nasdaq in the span of eight minutes, or the ±$40 sell-off in gold in the span of two minutes.

Regardless of the cause, they served as the latest real-world examples of why it’s so important for traders of all types to assess the risks of their trades – before you enter into them – and have a plan to manage that risk. Day traders and position traders alike should be aware of important planned events – just like FOMC announcements and press conferences – and anticipate the potential risks to those events (these days it’s wise to include occasions when the U.S. president speaks, considering his ongoing involvement and influence in global trade relations).

These events certainly create opportunities for traders – outsize moves can also result in outsize favorable outcomes – but the most important aspect to trading – is always to manage risk.

General – Interest Rates:

Day 29 of the U.S Government shut-down, now the second-longest on record.

The Federal Reserve cut interest rates by a quarter of a percentage point today – its second consecutive rate cut, lowering the Fed’s benchmark interest rate to a range of 3.75 to 4 percent, its lowest level in three years.

Stock Index Futures:

We’re amidst earning season for the third quarter. Moving into full swing, all eyes were on Microsoft, Google-parent Alphabet and Facebook-owner Meta today– all releasing their latest earnings results after the closing bell.

Tomorrow:

Apple and Amazon

December Cotton

December cotton violated its contract low this month but for now was unable to sustain the break towards the low percentage drawn downside PriceCount objective near 57 cents not shown here for presentation purposes. The new chart has activated upside counts on the correction higher and is quickly approaching the first objective to the 66.27 area. To achieve any additional upside targets, we will first have to break out above the long-term downtrend

Daily Levels for Oct. 30th, 2025

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Economic Reports

U.S. government data may be impacted by the shutdown. ‘Tentative’ events are subject to delay, revision, or cancellation

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FOMC Tomorrow, December Live Cattle, Levels, Reports; Your 4 Important Need-To-Knows for Trading Futures on October 29th, 2025

Posted on October 28, 2025 by Cannon Operations

FOMC Tomorrow

By John Thorpe, Senior Broker

At-a-Glance Levels

Instrument	S2	S1	Pivot	R1	R2
Gold (GC) — Dec (GCZ5)	3837.43	3906.47	3970.33	4039.37	4103.23
Silver (SI) — Dec (SIZ5)	44.83	46.01	46.69	47.88	48.56
Crude Oil (CL) — Nov (CLX5)	58.65	59.28	60.39	61.02	62.13
Dec. Bonds (ZB)	118 18/32	118 27/32	119 1/32	119 10/32	119 16/32

October 29^th, Tomorrow, is the 96^th anniversary (seems like the term “anniversary” should be celebratory rather than marking a day of dread for the nation) Black Tuesday: when the US Stock Market crashes, ending the Great Bull Market of the 1920s and eventually contributing to the Great Depression. While we don’t expect this current Great Bull Market will crash tomorrow, yet anytime soon, it is not a novel idea to manage risk, it’s imperative.

Tomorrow is also the release of the expected 2^nd to last in a series of Fed Rate cuts while Chairman Jerome Powell will read a statement and will avail himself to the Press Corps. Expectations are for .25 reduction to the 3.75-4.00 range. Although surprises do occur, the only surprise tomorrow would be in the language used to massage future rate cuts, rather than the cut itself. Big Earnings after the close tomorrow as Microsoft, Google and Meta.

Previously in this blog I have included some option strategies, for both high volatility markets and low volatility markets. Measures of volatility are important to understand more holistically your risk management requirements when implementing your option strategy. I am including some basic definitions of the “Greeks” used to measure the impact of volatility on Option Premiums. In trading futures options, they help traders assess risk and manage their portfolios. Below are the definitions of the primary Greeks, tailored to futures options:

· Delta: Measures the rate of change in an option’s price for a $1 change in the underlying futures contract’s price. It ranges from 0 to 1 for calls and -1 to 0 for puts. For example, a delta of 0.5 means the option’s price moves $0.50 for every $1 move in the futures price. Delta also approximates the probability the option will expire in-the-money.

· Gamma: Measures the rate of change in delta for a $1 change in the underlying futures price. It reflects the acceleration of the option’s price movement. High gamma indicates delta is highly sensitive to price changes, which is common for at-the-money options near expiration.

· Theta: Measures the rate of change in an option’s price due to the passage of time, often called time decay. It’s typically negative, as options lose value as expiration approaches. For example, a theta of -0.05 means the option loses $0.05 per day, all else equal.

· Vega: Measures the sensitivity of an option’s price to a 1% change in the implied volatility of the underlying futures contract. For example, a Vega of 0.10 means the option’s price increases by $0.10 if implied volatility rises by 1%. Vega is higher for longer-dated options.

· Rho: Measures the sensitivity of an option’s price to a 1% change in interest rates. For futures options, Rho is often less significant due to typically short maturities and stable interest rates, but it still indicates how much the option price changes with shifts in the risk-free rate.

These Greeks are critical for understanding how factors like price movements, time, volatility, and interest rates impact futures options pricing and risk. If you’d like, I can dive deeper into any specific Greek or provide examples of their application in trading strategies.

Instant Viewing/Download: Commitment of Traders Report – How to Use?

December Live Cattle

The rally in December live cattle lost its momentum this month and activated downside PriceCount objectives on the correction lower. The break accelerated to its third count to the 224.50 area where it appears we may try to stabilize for a moment, at least. At this point, IF the chart can sustain further weakness, the low percentage fourth count would project a possible move to the 200.00 area.

Daily Levels for Oct. 29th, 2025

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Economic Reports

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Volatility Tips, December Crude Oil, Bollinger Bands & Parabolics, Levels, Reports; Your 5 Important Must-Knows for Trading Futures on October 17th, 2025

Posted on October 16, 2025 by Cannon Operations

Volatility Pointers

volatility

The last few trading sessions we saw tremendous volatility across many markets.

Here are some ideas to explore during times like these:

1. You don’t have a crystal ball. To think you can buy an ES contract in this volatility and use a 2 point stop in hopes of making 20 points profit is a very low probability event…you would need to buy it at the PEREFECT time for this to happen. Point is, with higher volatility you need to use WIDER stops to give yourself a chance. That may mean using SMALLER trade size.

2. If you are able to, share your read with another trader, it may provide you with a better perspective just by sharing.

3. If you think there is room for a big move or what we call a “runner” – be prepared to for the pullbacks. Use multiple time frames to gain a better perspective and hang in there for the big move, if this is what you think can happen.

4. If you have enough risk capital, try to use multiple contracts, example buying 2 rather than 1. Taking profit on the first part of the position will help you relax and look at what the market is really telling you rather than what you would like it to say. It helps reduce both the fear and the greed.

5. “Plan your trade, trade your plan”

Again, these are just some short pointers, written quickly after today’s session in hopes of helping you when you face a similar situation.

How I like to Use Bollinger Bands and Parabolics for Trade Exits

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December Crude Oil

December crude oil activated downside PriceCount objectives off the June high. The first count projects a possible slide to the $53 area which would require making a new contract low first. A trade below the early May reactionary low would formally negate the remaining unmet counts to the topside.

Daily Levels for Oct. 17th, 2025

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Economic Reports

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Price Extremes: Gold, Silver, Crude Oil; December KC Wheat, Levels, Reports; Your 4 Important Must-Knows for Trading Futures on October 16th, 2025

Posted on October 15, 2025 by Cannon Operations

Price Extremes

By Mark O’Brien, Senior Broker

General:

Day 15 of the U.S Government shutdown.

Stock Index Futures:

Dec. stock index futures returned to solid gains late today as markets remained alert over US-China trade tensions and amid hopes for interest rate cuts and strong quarterly earnings results from Wall Street banks. Traders have cemented bets on a rate cut later this month, and odds of a rate cut in December have jumped in recent days to around 96% according to the CME Group FedWatch tool:

Prices Metals:

It’s the broken record metals report. Dec. gold futures rose to new all-time highs today – its 47^th new record of the year – trading up to $4,235.80/ounce intraday.

Alongside gold, Dec. silver rocketed up nearly $2.00/oz. today to set its own all-time record high, trading intraday up to $52.55/ounce. This after yesterday when the contract took out a 45-year-old record closing price of $48.70/ounce, during the time when the Hunt brothers tried to corner the market.

Prices Energies:

November crude oil futures have remained on their lows this week – with a new multi-month intraday low of $58.20/barrel on continued concerns about oversupply and the possible impact on demand of rekindled U.S.-China trade tensions – its fourth day in a row closing below $60/barrel.

Livestock:

Dec. live cattle and Jan. feeder cattle both closed little changed today and within pennies of their own all-time record high closing prices at the close of trading yesterday. Tight supplies and strong feeder markets pushed cash cattle higher and the futures markets followed suit. The supply of cattle has lingered at a near 75-year low, with the closure of the US-Mexico border to Mexican cattle imports further constraining an already tight supply.

December KC Wheat

December KC wheat satisfied its third downside PriceCount objective and reacted with a key reversal higher. It would be normal to get a mean reversion from this level in the form of a consolidation or corrective phase, at least. If the chart can sustain further weakness, we are left with the low percentage fourth count to aim for in the $4.37 area. That we trade down to this level is a realistic target although we have traded that low just 5 years ago.

Daily Levels for Oct. 16th, 2025

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Economic Reports

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Options Trading, All Time Highs for Gold/Silver, Spread Trading Webinar TOMORROW, Levels, Reports; Your 5 Important Must-Knows for Trading Futures on October 15th, 2025

Posted on October 14, 2025 by Cannon Operations

Volatility – New All Time High on Gold, Silver!

Learn How to hedge utilizing Options

By John Thorpe, Senior Broker

options

Option Hedging 201

This fall, some markets have exceeded upside expectations, Examples include Equities, Livestock, Precious Metals, Coffee and Cocoa.

If you are a long-term investor of Gold, Gold ETF’s Gold Futures and want to or need to protect your investments I put together, for the second time this year, with a few tweaks, Option strategies to protect your downside risk.

You can use these for any market with liquid options.

These are not dollar for dollar coverage strategies, However, I have included pros and cons as I did previously, to help you determine suitability given your personal risk assessment.

Read the rest along with specific examples and charts.

Instant Viewing/Download: Hedging with Options Cheat Sheet

SPECIAL WEBINAR Tomorrow- limited space

Ever got stopped out on a trade just to see the market goes back in your direction??

Perhaps it’s time to learn about spread trading?

Join us for an exclusive webinar on “Futures Spread Trading,” where you’ll discover the powerful strategies professional traders use to capitalize on market opportunities while managing risk. Whether you’re a seasoned investor or just starting out, this session will break down the essentials of spread trading, uncover actionable techniques, and show you how to navigate the futures market with confidence. Don’t miss this chance to learn from industry experts and take your trading skills to the next level—reserve your spot today!

This is the second in a series of four episodes!

Date & Time

Oct 15, 2025 1:30 PM Central

Register Today – Space is Limited!

December Canadian Dollar

The December Canadian Dollar satisfied its second downside PriceCount objective. Fuel is now behind to get a near term reaction from this level in the form of a consolidation or corrective rise. If the chart can sustain further downside, the third count would project a possible slide to the 0.6967 area.

Daily Levels for Oct. 15th, 2025

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Economic Reports

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200-day Simple Moving Average (200-day SMA)

The Bull Market at Large

By John Thorpe, Senior Broker

At-a-Glance Levels

Gold (GC)

Silver (SI)

Crude Oil (CL)

Dec. Bonds (ZB)

Bulls are surviving…. For now.

Quick Historical Examples

Bottom Line

Where is the 200 Day today?

Plan your trade, trade your plan!

December Bean Oil

Daily Levels for Nov. 19th, 2025

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Economic Reports

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Zero-DTE Options

by Ilan Levy-Mayer, VP

At-a-Glance Levels

Gold (GC)

Silver (SI)

Crude Oil (CL)

Dec. Bonds (ZB)

Zero-DTE Options: Leveraging CME Liquidity in Volatile Markets

What Are Zero-DTE Options?

Advantages of Using CME Zero-DTE Options

Key Considerations

Consult with a Broker

January Lumber

Daily Levels for Nov. 18th, 2025

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Economic Reports

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Futures Trading

Start Trading Futures with Cannon Trading Company

Wheat Outlook, First Notice Days & Last Trading Days (FNDLTD)

At-a-Glance Levels

Gold (GC)

Silver (SI)

Crude Oil (CL)

Dec. Bonds (ZB)

FNDLTD:

Below are the contracts which are entering First Notice or Last Trading Day (FNDLTD) for November.

Cash Settled

December Wheat

Daily Levels for Nov. 4th, 2025

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Economic Reports

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Classify the Trading Day

By Ilan Levy-Mayer, VP

At-a-Glance Levels

Gold (GC)

Silver (SI)

Crude Oil (CL)

Dec. Bonds (ZB)

Classify the trading day — quick guide for beginners

Simple pre-open checks (do these first)

First 15 minutes checks

Fast decision rules

Beginner checklist (60 seconds)