{"id":19826,"date":"2024-05-31T12:28:17","date_gmt":"2024-05-31T20:28:17","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=19826"},"modified":"2024-05-31T12:28:18","modified_gmt":"2024-05-31T20:28:18","slug":"mastering-vertical-spreads-a-guide-to-risk-defined-options-strategies-trading-levels-for-june-3rd","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/mastering-vertical-spreads-a-guide-to-risk-defined-options-strategies-trading-levels-for-june-3rd\/","title":{"rendered":"Mastering Vertical Spreads: A Guide to Risk-Defined Options Strategies + Trading Levels for June 3rd"},"content":{"rendered":"<div><span style=\"text-align: left;\">Get Real Time updates and more by joining our <a href=\"https:\/\/www.facebook.com\/groups\/1105191589938254\" target=\"_blank\" rel=\"noopener\">Private Facebook Group<\/a>!<\/span><\/div>\n<div><span style=\"text-align: left;\">Subscribe to our\u00a0<a href=\"https:\/\/www.youtube.com\/channel\/UCf-asPYp_40m1unYPKpUhaw\" target=\"_blank\" rel=\"noopener\">YouTube Channel<\/a><\/span><\/div>\n<hr \/>\n<h3><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-19827\" src=\"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-content\/uploads\/2024\/05\/C65-300x150.jpg\" alt=\"\" width=\"710\" height=\"355\" title=\"\" srcset=\"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-content\/uploads\/2024\/05\/C65-300x150.jpg 300w, https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-content\/uploads\/2024\/05\/C65-768x384.jpg 768w, https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-content\/uploads\/2024\/05\/C65.jpg 960w\" sizes=\"auto, (max-width: 710px) 100vw, 710px\" \/><\/h3>\n<h3>Cannon Futures Weekly Letter Issue # 1196<\/h3>\n<div><\/div>\n<div>In this issue:<\/div>\n<div><\/div>\n<ul>\n<li>Important Notices &#8211; <em><strong>Non Farm Payrolls is the main event<\/strong><\/em><\/li>\n<li>Futures 101 &#8211; <em><strong>Vertical Option Spreads<\/strong><\/em><\/li>\n<li>Hot Market of the Week &#8211;<\/li>\n<li>Broker&#8217;s Trading System of the Week &#8211; <em><strong>Crude Oil Day Trading System<\/strong><\/em><\/li>\n<li>Trading Levels for Next Week<\/li>\n<li>Trading Reports for Next Week<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p><strong>Important Notices &#8211; Next Week Highlights:<\/strong><\/p>\n<ul>\n<li>Light Earnings week: Crowdstrike, LULULemon, Dollar Tree and HP are the 4 headliners<\/li>\n<li>FOMC Blackout Period Begins in advance of the June\u00a011-12 FOMC Mtg.<\/li>\n<li>Econ Data: ISM MFG PMI Mon., JOLTS Tues., ISM SVCS PMI Wed, Jobless Claims Thur, NON Farm Payrolls B4 the open Fri.<\/li>\n<li><a href=\"https:\/\/www.cannontrading.com\/tools\/futures-market\/metals\/Gold-Futures\">August gold<\/a> is front month<\/li>\n<li>September is front month for <a href=\"https:\/\/www.cannontrading.com\/tools\/futures-market\/financials\/Treasury-Bond-Futures\">bonds<\/a>, <a href=\"https:\/\/www.cannontrading.com\/tools\/futures-market\/financials\/10-Year-Treasury-Note-Futures\">10 years<\/a>, 5\/2 notes.<\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<div><strong>Futures 101\u00a0:<\/strong><\/div>\n<div><\/div>\n<h3 align=\"center\">Vertical Spreads<\/h3>\n<div align=\"center\">By\u00a0Craig Bewick\u00a0CMEGroup.com<\/div>\n<div><\/div>\n<div>&#8220;Vertical Spreads&#8221; involve buying (selling) a higher strike price option and selling (buying) a lower strike price option and can be executed with either Calls or Puts.<\/div>\n<ul>\n<li>If a trader sells the lower strike CALL option and buys the higher strike CALL option, they would receive a CREDIT (the lower strike Call will trade at a higher price\u00a0than the higher strike Call) for that trade. Selling the higher strike and buying the lower strike CALL would result in a DEBIT. The opposite is true if the trader\u00a0executed a PUT spread.<\/li>\n<\/ul>\n<div>These spreads are known as &#8220;risk defined&#8221; strategies because the max potential profit and loss is known to the trader at the time of execution.<\/div>\n<div>If we hold all other variables constant, Call and Put Vertical spreads represent a bullish or bearish view on the price of the underlying instrument:<\/div>\n<ul>\n<li>Long (debit) Call spreads and Short (credit) Put spreads represent a bullish view<\/li>\n<li>Short (credit) Call spreads and Long (debit) Put spreads represent a bearish view<\/li>\n<\/ul>\n<div>Of course, as with most options strategies, several factors, including volatility, can also impact the value of vertical spreads, as we&#8217;ll demonstrate below.<\/div>\n<div><\/div>\n<div>EXAMPLE:<\/div>\n<div>Let&#8217;s look at a real-life example using E-mini S&amp;P 500 options:<\/div>\n<div>Using markets from 4\/25 @ 10:35 AM CST, we selected the following options:<\/div>\n<div><\/div>\n<div><strong>Futures: 5,038<\/strong><\/div>\n<div><\/div>\n<div><strong>Sell 1 5,090 Call\u00a0<\/strong>| Premium\u00a0<strong>58.25<\/strong>\u00a0| IV: 14.3% | Delta: -.41 | Gamma: -.0019 | Vega: -550.8 | Theta: 1.35<\/div>\n<div><strong>Buy 1 5,130 Call<\/strong>\u00a0| Premium\u00a0<strong>42.0<\/strong>\u00a0| IV: 13.9% | Delta: .33 | Gamma: .0018 | Vega: 513.8 | Theta: -1.23<\/div>\n<div><\/div>\n<div><strong>Position:\u00a0<\/strong>Delta: -.08 | Gamma: -.0001 | Vega: -37 | Theta: .12<\/div>\n<div><\/div>\n<div><strong>Max profit and loss (excluding all fees and commissions):<\/strong><\/div>\n<ul>\n<li>The max profit that this position could realize is the credit taken in at execution<\/li>\n<li>58.25-42.0 = 16.25 pts (16.25*$50 = $812.50)<\/li>\n<li>The max loss that this position could realize is the credit taken in minus the difference between the strike prices<\/li>\n<li>16.25-40.00 = 23.75 pts (23.75*$50 = $1,187.50)<\/li>\n<li>The P&amp;L graph of each option and the overall P&amp;L is shown in the TOP image below<\/li>\n<\/ul>\n<div><\/div>\n<div><strong>Short 5090 Call (Blue Line)<\/strong><\/div>\n<ul>\n<li>58.25 points were collected at execution on the 5090 Call. At any price below 5090 at expiry, this option is worthless and the trader will keep the premium\u00a0collected (58.25).<\/li>\n<li>As the price rises above 5090, the option gains value incrementally which, because this position is short, has a negative impact on the P&amp;L.<\/li>\n<\/ul>\n<div><\/div>\n<div><strong>Long 5130 Call (Orange Line)<\/strong><\/div>\n<ul>\n<li>42 points were paid at the execution of the 5130 Call. This option, at expiry, is worthless at any futures price at, or under, 5130.<\/li>\n<li>Similar to the 5090, as the price rises above 5130, the option gains value incrementally, which, in this case, has a positive impact on the P&amp;L.<\/li>\n<\/ul>\n<div><\/div>\n<div><strong>Position P&amp;L<\/strong><\/div>\n<ul>\n<li>They gray line represents the overall P&amp;L of the position at expiration, based on the futures price on the X-axis. This is simply the addition of the value of the blue\u00a0and orange lines.<\/li>\n<\/ul>\n<div><\/div>\n<div><strong>P&amp;L Scenarios Prior to Expiration<\/strong><\/div>\n<div><\/div>\n<div>However, though the max profit and loss is defined at the entry point of the trade, as we mentioned earlier, because option pricing is multi-dimensional, factors like\u00a0volatility and time can impact the value of the position between execution and expiration. Although it is impossible to illustrate all the different values at which this\u00a0option could theoretically trade because of the dynamic nature of options pricing, we wanted to illustrate some &#8220;what-if&#8221; scenarios to demonstrate how things like implied\u00a0volatility and time decay might impact the position. These are illustrated in the bottom image below.<\/div>\n<div><\/div>\n<div align=\"center\"><a href=\"https:\/\/www.cannontrading.com\/company\/contact\" target=\"_blank\" rel=\"noopener noreferrer\">Questions? We are happy to help!<\/a><\/div>\n<div><\/div>\n<p><img decoding=\"async\" src=\"https:\/\/files.constantcontact.com\/3dc00ef7001\/b8b76997-8cc1-47f1-9109-c3c9ced3b8dd.png\" alt=\"\" title=\"\"><\/p>\n<p align=\"center\"><a href=\"https:\/\/www.cannontrading.com\/\"><img decoding=\"async\" src=\"https:\/\/ci4.googleusercontent.com\/proxy\/7kJuSXfr6c2EADmOeEAcM7mSso0u8a_i6X34OgYh_LR6D5TqLuPBwntxgg2tsaKqlZqaCFJEYHw3tJuMXrJ-0ikOkUdZqDGIZXxEvzi_I0U6GXWTXlTxPc6ieb-gK0j9aE_ScfcNVOKkCGyEHuDeVKU=s0-d-e1-ft#https:\/\/emailsignature.trustpilot.com\/newsletter\/en-US\/2\/581795fd0000ff000596d6a7\/stars.png\" alt=\"\" title=\"\"><\/a><\/p>\n<p align=\"center\"><a href=\"https:\/\/www.cannontrading.com\/\"><img decoding=\"async\" src=\"https:\/\/ci6.googleusercontent.com\/proxy\/9Hnv4wEzz7dLV5tO6SrpnQPN9ZafvOmDqoWX2ZfX5qsMvk8MUPgrgLYiZHzlc1Z9GYxFfC5bfA_rDS7RBu_Bn3dtP3DtxhIoKpaPG8m4D9mnAE_3g8VpovlWeYzAugYr7M2YIR7AvM8vgYyklnF_4OyDTA=s0-d-e1-ft#https:\/\/emailsignature.trustpilot.com\/newsletter\/en-US\/2\/581795fd0000ff000596d6a7\/text@2x.png\" alt=\"\" title=\"\"><\/a><\/p>\n<h3 align=\"center\"><span style=\"text-align: left;\"><a href=\"https:\/\/secure.ironbeam.com\/openaccount\/index.aspx?src=316&amp;k=27817434\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/files.constantcontact.com\/3dc00ef7001\/3b644da2-2bee-4d39-8d98-5208a20bec39.jpg\" width=\"258\" height=\"58\" alt=\"\" title=\"\"><\/a><\/span><\/h3>\n<p>&nbsp;<\/p>\n<ul>\n<li>\n<h3>Hot Market of the Week &#8211; December Corn<\/h3>\n<\/li>\n<\/ul>\n<div><\/div>\n<div>Hot market of the week is provided by QT Market Center,\u00a0A Swiss army knife charting package that&#8217;s not just for Hedgers, Cooperatives and Farmers alike but also for Spread traders, Swing traders and shorter time frame application for intraday traders with a unique proprietary indicator that can be applied to your specific trading needs.<\/div>\n<div><\/div>\n<div><a href=\"https:\/\/www.cannontrading.com\/software\/qt-market-center\" target=\"_blank\" rel=\"noopener noreferrer\">FREE TRIAL AVAILABLE<\/a><\/div>\n<div><\/div>\n<div><b>Dec Corn<\/b><\/div>\n<div><\/div>\n<div>The rally in <a href=\"https:\/\/www.cannontrading.com\/tools\/futures-market\/grains\/Corn-Futures\">December corn<\/a> ran out of momentum after completing a second upside PriceCount objective. Now, on the correction lower the chart has activated downside counts too. The first downside objective project a run to the $4.61 area. It takes a trade below $4.56 1\/2 to formally negate the remaining unmet upside counts<\/div>\n<div><\/div>\n<div align=\"center\">PriceCounts &#8211; Not about where we&#8217;ve been , but where we might be going next!<\/div>\n<div align=\"center\"><\/div>\n<div align=\"center\"><img decoding=\"async\" src=\"https:\/\/files.constantcontact.com\/3dc00ef7001\/59b8178e-49fa-4be3-bf2e-2c0cdc8ebd8a.png\" alt=\"\" title=\"\"><\/div>\n<div align=\"center\"><\/div>\n<div align=\"center\"><\/div>\n<div style=\"text-align: left;\" align=\"center\">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 \u2018exact\u2019 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\u00a0<a href=\"http:\/\/www.qtchartoftheday.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">www.qtchartoftheday.com<\/a><\/div>\n<div align=\"center\"><\/div>\n<div style=\"text-align: left;\" align=\"center\">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.<\/div>\n<div align=\"center\"><\/div>\n<div align=\"center\"><\/div>\n<div align=\"center\"><\/div>\n<div align=\"center\"><\/div>\n<div align=\"center\"><\/div>\n<div align=\"center\"><\/div>\n<div style=\"text-align: left;\" align=\"center\">\n<h3 style=\"text-align: center;\">\u00a0\u00a0\u00a0Broker&#8217;s Trading System of the Week<\/h3>\n<div><\/div>\n<div>With\u00a0algorithmic\u00a0trading systems becoming more prevalent in portfolio diversification, the following system has been selected as the broker&#8217;s choice for this month.<\/div>\n<div><\/div>\n<p><a href=\"https:\/\/cannon.isystems.com\/System\/PerformanceSheet?Id=10663\" target=\"_blank\" rel=\"noopener\"><strong>Agora Crude<\/strong><\/a><\/p>\n<div><\/div>\n<div><\/div>\n<div>PRODUCT<\/div>\n<div><a href=\"https:\/\/www.cannontrading.com\/tools\/futures-market\/energies\/WTI-Light-Sweet-Crude-Oil-Futures\">CL &#8211; Crude Oil<\/a><\/div>\n<div><\/div>\n<div>SYSTEM TYPE<\/div>\n<div>Swing<\/div>\n<div><\/div>\n<div>Recommended Cannon Trading Starting Capital<\/div>\n<div>$20,000<\/div>\n<div><\/div>\n<div>COST<\/div>\n<div>USD 70 \/ monthly<\/div>\n<div><\/div>\n<div><\/div>\n<div><a href=\"https:\/\/cannon.isystems.com\/System\/PerformanceSheet?Id=17519\" target=\"_blank\" rel=\"noopener noreferrer\">Get Started<\/a><\/div>\n<div><\/div>\n<div><a href=\"https:\/\/cannon.isystems.com\/System\/PerformanceSheet?Id=10663\" target=\"_blank\" rel=\"noopener noreferrer\">Learn More<\/a><\/div>\n<\/div>\n<p><img decoding=\"async\" src=\"https:\/\/files.constantcontact.com\/3dc00ef7001\/2bd7d053-cf81-410d-9474-0662f632b0a9.png\" alt=\"\" title=\"\"><\/p>\n<div align=\"center\"><\/div>\n<div style=\"text-align: left;\" align=\"center\">The performance shown above is hypothetical in that the chart represents returns in a model account. The model\u00a0account rises or falls by the average single contract profit and loss achieved by clients trading actual money pursuant\u00a0to the listed system\u2019s trading signals on the appropriate dates (client fills), or if no actual client profit or loss available \u2013\u00a0by the hypothetical single contract profit and loss of trades generated by the system\u2019s trading signals on that day in\u00a0real time (real\u2010time) less slippage, or if no real time profit or loss available \u2013 by the hypothetical single contract profit\u00a0and loss of trades generated by running the system logic backwards on back adjusted data.\u00a0<a href=\"https:\/\/r20.rs6.net\/tn.jsp?f=001zny8lGqtfXPYeY09EseNDkhWdSiiVJVTEImmHILx1zWCF1h3Rwlqw0n26ZAEwOPyqsblA8LEGD6u5R7jNok446VgB6xtWcJGwXR5-6cP_YxzjVl9YoemkQ1yy4qmIybYp7qv-G6i11feAhAC6Nlu2i58nY0c77pbASKTXspa7zIa131NP0q-07Gezax3jLIO9ss1CPQYgW-JeGde_eguoA==&amp;c=&amp;ch=\" target=\"_blank\" rel=\"noopener noreferrer\">Please read full disclaimer HERE.<\/a><\/div>\n<div style=\"text-align: left;\" align=\"center\"><\/div>\n<div align=\"center\"><\/div>\n<div align=\"center\"><\/div>\n<div style=\"text-align: left;\" align=\"center\">\n<table class=\"poll-question\" border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td class=\"editor-text\" align=\"left\" valign=\"top\">\n<div><span data-entity-ref=\"POLL.ca-1664310937429.question_1_text\">Would you like to receive daily support &amp; resistance levels?<\/span><\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td align=\"left\" valign=\"top\">\n<table class=\"poll-answer\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\" align=\"left\">\n<tbody>\n<tr>\n<td class=\"editor-text\" align=\"left\" valign=\"middle\">\n<div><span data-entity-ref=\"POLL.ca-1664310937429.question_1_choice_1_text\">Yes<\/span><\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table class=\"poll-button\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\" align=\"right\" bgcolor=\"#3661BD\">\n<tbody>\n<tr>\n<td align=\"center\" valign=\"top\">\n<div><a href=\"https:\/\/campaignlp.constantcontact.com\/forms\/response?id=tiLlM7NobJmOjaKfyyForBFmeH3eO8r7_RYE_A-4Vp_O4UAAHgwC8r2U1wW5-uegFBI60m0ykJnfKqYOkXfE67CebXsf8ClGEMIAsr9DDFAgAvwptIjCTzfKXsOtrxIpBb79xp2tJaxWTJwLcwTJZ27B5lUkRveoTAksJSt0ZaxMvkril64Qc6CnrGOwJm3yuzWk_BooTyXFYMefTsr-aw&amp;encVer=1&amp;c=&amp;ch=&amp;mode=preview\" target=\"_blank\" rel=\"noopener\">Select<\/a><\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"divider-base divider-dashed\" align=\"center\" valign=\"top\" width=\"100%\">\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td align=\"center\" height=\"1\">\n<div><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/imgssl.constantcontact.com\/letters\/images\/1101116784221\/S.gif\" alt=\"\" width=\"5\" height=\"1\" border=\"0\" hspace=\"0\" vspace=\"0\" title=\"\"><\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table border=\"0\" width=\"100%\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td align=\"left\" valign=\"top\">\n<table class=\"poll-answer\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\" align=\"left\">\n<tbody>\n<tr>\n<td class=\"editor-text\" align=\"left\" valign=\"middle\">\n<div><span data-entity-ref=\"POLL.ca-1664310937429.question_1_choice_2_text\">No<\/span><\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<table class=\"poll-button\" border=\"0\" cellspacing=\"0\" cellpadding=\"0\" align=\"right\" bgcolor=\"#3661BD\">\n<tbody>\n<tr>\n<td align=\"center\" valign=\"top\">\n<div><a href=\"https:\/\/campaignlp.constantcontact.com\/forms\/response?id=tiLlM7NobJmOjaKfyyForBFmeH3eO8r7_RYE_A-4Vp_O4UAAHgwC8r2U1wW5-uegFBI60m0ykJnfKqYOkXfE67CebXsf8ClGEMIAsr9DDFAgAvwptIjCTzfKXsOtrxIpBb79xp2tJaxWTJwLcwTJZ27B5lUkRveoTAksJSt0ZaxMvkril64Qc6CnrGOwJm3yuzWk_BooTyXXN6S9LkQxSg&amp;encVer=1&amp;c=&amp;ch=&amp;mode=preview\" target=\"_blank\" rel=\"noopener\">Select<\/a><\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"divider-base divider-dashed\" align=\"center\" valign=\"top\" width=\"100%\">\n<table border=\"0\" cellspacing=\"0\" cellpadding=\"0\">\n<tbody>\n<tr>\n<td align=\"center\" height=\"1\">\n<div><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/imgssl.constantcontact.com\/letters\/images\/1101116784221\/S.gif\" alt=\"\" width=\"5\" height=\"1\" border=\"0\" hspace=\"0\" vspace=\"0\" title=\"\"><\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<div><\/div>\n<div>If you are a day trader,\u00a0below you will see markets that our proprietary ALGO has identified as being more suitable for attacking either from the long side or the short side.<\/div>\n<div><\/div>\n<div><a href=\"https:\/\/www.cannontrading.com\/company\/contact\" target=\"_blank\" rel=\"noopener noreferrer\">Questions? We are happy to help!<\/a><\/div>\n<div><\/div>\n<div><img decoding=\"async\" class=\"aligncenter\" src=\"https:\/\/files.constantcontact.com\/3dc00ef7001\/b00cfd16-9851-4ca4-9a12-c84253e7b99b.png\" alt=\"\" title=\"\"><\/div>\n<h3 style=\"text-align: center;\" align=\"center\">Daily Levels for June 3rd 2024<\/h3>\n<p style=\"text-align: center;\"><img decoding=\"async\" src=\"https:\/\/files.constantcontact.com\/3dc00ef7001\/341dd698-13b7-42b2-be6f-d9aa620c5ae8.png\" alt=\"\" title=\"\"><\/p>\n<div style=\"text-align: center;\" align=\"center\">\n<p><strong>Trading Reports for Next Week<\/strong><\/p>\n<\/div>\n<div style=\"text-align: center;\"><img decoding=\"async\" src=\"https:\/\/files.constantcontact.com\/3dc00ef7001\/dd6d6988-2a2d-4b4f-85e0-6c0d2396ceb1.png\" alt=\"\" title=\"\"><\/div>\n<div><\/div>\n<div style=\"text-align: center;\"><a href=\"https:\/\/www.e-futures.com\/futures-trading-demo.php\" target=\"_blank\" rel=\"noopener\"><img decoding=\"async\" src=\"https:\/\/files.constantcontact.com\/3dc00ef7001\/d259df9c-bf07-4429-9fa8-d12b53c37804.png\" alt=\"\" title=\"\"><\/a><\/div>\n<div style=\"text-align: center;\"><\/div>\n<div style=\"text-align: center;\" align=\"center\">\n<div>First Notice (FN), Last trading (LT) Days for the Week:<\/div>\n<div align=\"center\"><a href=\"http:\/\/www.mrci.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">www.mrci.com\u00a0<\/a><\/div>\n<\/div>\n<div style=\"text-align: center;\" align=\"center\"><img decoding=\"async\" src=\"https:\/\/files.constantcontact.com\/3dc00ef7001\/ed675209-d696-4ee7-8140-85ab9d24f706.png\" alt=\"\" title=\"\"><\/div>\n<hr \/>\n<h2 style=\"text-align: center;\">Improve Your Trading Skills<\/h2>\n<p style=\"text-align: center;\">Get access to proprietary indicators and trading methods,\u00a0<a href=\"https:\/\/www.cannontrading.com\/services\/traders-profile\" target=\"_blank\" rel=\"noopener noreferrer\">consult with an experienced broker<\/a> at 1-800-454-9572.<\/p>\n<p style=\"text-align: center;\">Explore trading methods.\u00a0<a href=\"https:\/\/www.cannontrading.com\/tools\/intraday-futures-trading-signals\" target=\"_blank\" rel=\"noopener noreferrer\">Register Here<\/a><\/p>\n<div style=\"margin-top: 30px; margin-bottom: 30px; text-align: center;\"><\/div>\n<p style=\"text-align: left;\"><strong><em>* This is not a solicitation of any order to buy or sell, but a current market view provided by <a href=\"https:\/\/www.cannontrading.com\/company\/about\">Cannon Trading Inc<\/a>. Any statement of facts\u00a0here in\u00a0contained are derived from sources believed to be\u00a0reliable,\u00a0but are not guaranteed as to\u00a0accuracy, nor they purport to be complete. No responsibility is assumed with respect to any such statement or with respect to any expression of opinion herein contained. Readers are urged to exercise their own\u00a0judgement\u00a0in trading.<\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Get Real Time updates and more by joining our Private Facebook Group! Subscribe to our\u00a0YouTube Channel Cannon Futures Weekly Letter Issue # 1196 In this issue: Important Notices &#8211; Non Farm Payrolls is the main event Futures 101 &#8211; Vertical Option Spreads Hot Market of the Week &#8211; Broker&#8217;s Trading System of the Week &#8211; [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-19826","post","type-post","status-publish","format-standard","hentry"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/19826","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/comments?post=19826"}],"version-history":[{"count":3,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/19826\/revisions"}],"predecessor-version":[{"id":19830,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/19826\/revisions\/19830"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=19826"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=19826"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=19826"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}