{"id":23308,"date":"2026-09-08T13:28:54","date_gmt":"2026-09-08T20:28:54","guid":{"rendered":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/?p=23308"},"modified":"2026-09-08T13:28:54","modified_gmt":"2026-09-08T20:28:54","slug":"pricing","status":"publish","type":"post","link":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/pricing\/","title":{"rendered":"Your Important Guide to Futures Pricing on September 9th, 2026"},"content":{"rendered":"\n\n\n
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At A Glance Levels<\/h3>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Instrument<\/th>\nS2<\/th>\nS1<\/th>\nPivot<\/th>\nR1<\/th>\nR2<\/th>\n<\/th>\n<\/th>\n<\/tr>\n<\/thead>\n
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Gold (GC)<\/strong><\/h2>\n

\u2014 Dec. (#GC)<\/td>\n

4343.23<\/td>\n4373.07<\/td>\n44300.93<\/td>\n4460.77<\/td>\n4518.63<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
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Silver (SI)<\/strong><\/h2>\n

\u2014 Dec. (#SI)<\/td>\n

64.91<\/td>\n65.61<\/td>\n66.72<\/td>\n67.42<\/td>\n68.53<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
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Crude Oil (CL)<\/strong><\/h2>\n

\u2014 Oct. (#CL)<\/td>\n

89.33<\/td>\n91.65<\/td>\n93.19<\/td>\n95.51<\/td>\n97.05<\/td>\n<\/td>\n<\/td>\n<\/tr>\n
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\u00a0Dec. Bonds (ZB)<\/strong><\/h2>\n

\u2014 Dec. (#ZB)<\/td>\n

107 22\/32<\/td>\n108 4\/32<\/td>\n108 20\/32<\/td>\n109 2\/32<\/td>\n109 18\/32<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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3 Things Nobody is Pricing Correctly<\/h1>\n

By Eli Gal Levy, Senior Analyst<\/h3>\n

\"pricing\"<\/h2>\n

The option book\u2019s magnet walks downhill into the meeting, and it is the only thing on the Street that does.<\/h3>\n

Max pain is treated as a single number for a single day. It is a curve, and this one has a slope. The strike that maximizes option-holder losses is 7,720 for this morning\u2019s expiry, 7,700 Wednesday, 7,725 Thursday and Friday, 7,700 on the 14th, 7,675 on the 15th \u2014 and 7,650 on the 16th, the day of the decision. Then it snaps back to 7,705 for the quarterly on the 18th. A seventy-point downhill walk from here to the FOMC, and an immediate recovery afterwards.<\/p>\n

Nobody reads it that way because max pain is reported as a daily curiosity rather than a term structure. The shape says something specific: contracts written for the decision date were sold around a lower strike than contracts written for either side of it. Set that against Section 06, where four desks changed their view of Fed policy in nine days and not one moved a year-end target.<\/p>\n

The people writing options for the sixteenth marked their book down. The people writing research marked nothing. One of those groups has money at risk on the specific day.<\/p>\n

The cushion everyone is leaning on has an expiry date, and it is the 18th.<\/h3>\n

\u201cLong gamma, dealers dampen\u201d has been the reassuring sentence in every letter including this one for six of the last seven sessions. It is true. What is never said is where the gamma lives. Of roughly $25.5 billion of net dealer gamma across the four nearby contracts, about\u00a0$17.6 billion \u2014 close to seventy per cent \u2014 sits in the September monthly alone. The two front weeklies contribute a few billion each. October is a rounding error.<\/p>\n

So the dampening is not a property of the market\u2019s structure. It is a property of one expiry, which dies on the morning of 18 September alongside $6.2 trillion of notional, on the same day the Bank of Japan meets with a hike 63% priced, two days after the FOMC. The market spends eight sessions inside a cushion that vanishes on the ninth. Every scenario map being drawn for this meeting quietly assumes the volatility-suppressing mechanism survives it. It survives it by two days.<\/p>\n

A third of the inflation the Fed is about to tighten against may be a semiconductor shortage.<\/h3>\n

Fundstrat put a number on it that nobody has picked up:\u00a0flash memory accounts for roughly 33% of the excess inflation in core PCE. Set that beside the physical market. Korean DRAM export prices are up 37% since May while volumes fell 13%.<\/p>\n

HBM3E trades at four to five times its contract price. The bill of materials on the iPhone launching tomorrow is up 38% year on year, driven primarily by memory. And on Monday the Kospi rose 4.61% while Hong Kong fell 0.85% \u2014 same session, same news, opposite directions, because Korea was trading the shortage and Hong Kong was trading the Fed.<\/p>\n

If a meaningful slice of the core overshoot is a supply shock in one component, a policy rate does nothing to it except squeeze the demand that is not causing it. That is the strongest version of the hold case and almost nobody is making it \u2014 the doves are arguing about labor slack and tariff pass-through instead.<\/p>\n

It also implies something uncomfortable for the other side: if the committee hikes into a memory shortage and the shortage resolves on its own timetable, the tightening will look, in hindsight, like it worked. Both camps have an incentive not to examine this, which is usually the sign that it is worth examining.<\/p>\n

Need help looking at different markets? get some insight from an experienced series 3 broker?<\/h3>\n

The call is free and we are here to assist – try us!<\/a><\/h3>\n

+310 859 9572<\/em><\/h3>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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December 10 Year Treasury Notes<\/h3>\n

The December 10 year treasury notes satisfied the third downside PriceCount objective and are consolidating their trade. If the chart can resume its break with new sustained lows, we are left with the low percentage fourth count to aim for in the 105^27 area.<\/p><\/blockquote>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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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. <\/em><\/p>\n

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. <\/em><\/p>\n

Learn more at\u00a0https:\/\/www.qtinfo.com\/analysis\/qt-chart-of-the-day\/<\/a><\/em><\/h3>\n

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.<\/em><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Cannon Edge \u2014 Your Daily Futures Snapshot for Sept. 9th<\/h3>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Cannon Edge is our new daily feature designed to give traders a fast, actionable overview of key futures markets. Each post delivers:<\/h4>\n

\u00b7\u00a0\u00a0\u00a0\u00a0Current price and daily % change<\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a030\u2011day and 52\u2011week highs\/lows<\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0PROPRIETARY Short\u2011term and long\u2011term trend signals<\/p>\n

\u00b7\u00a0\u00a0\u00a0\u00a0Coverage across equity indices, metals, energies, currencies, and ags<\/p>\n

Whether you’re scanning for breakout setups, trend reversals, or just staying informed \u2014 Cannon Edge puts the data in your hands before the open.<\/h3>\n

\u00a0Built for speed. Backed by insight. Powered by CQG.<\/em><\/h3>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Daily Levels for September 9th, 2026<\/h3>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Economic Reports<\/h3>\n

provided by:\u00a0<\/a>ForexFactory.com<\/a><\/p>\n

All times are Central Time ( Chicago)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Find us on Trustpilot<\/h1>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Trading Futures, Options on Futures, and retail off-exchange foreign currency transactions involves substantial risk of loss and is not suitable for all investors.\u00a0You 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.<\/em><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Call Now<\/a><\/h3>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Cannon Trading Co., Inc.<\/span><\/strong><\/em><\/p>\n

12100 Wilshire Blvd.<\/span><\/strong><\/em><\/p>\n

Suite 1640<\/span><\/strong><\/em><\/p>\n

Los Angeles, CA 90025 US<\/span><\/strong><\/em><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n","protected":false},"excerpt":{"rendered":"

At A Glance Levels Instrument S2 S1 Pivot R1 R2 Gold (GC) \u2014 Dec. (#GC) 4343.23 4373.07 44300.93 4460.77 4518.63 Silver (SI) \u2014 Dec. (#SI) 64.91 65.61 66.72 67.42 68.53 Crude Oil (CL) \u2014 Oct. (#CL) 89.33 91.65 93.19 95.51 97.05 \u00a0Dec. Bonds (ZB) \u2014 Dec. (#ZB) 107 22\/32 108 4\/32 108 20\/32 109 2\/32 […]<\/p>\n","protected":false},"author":19,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[239,234],"tags":[2066,337],"class_list":["post-23308","post","type-post","status-publish","format-standard","hentry","category-financial-futures","category-trading-guide","tag-futures-pricing","tag-treasury-notes"],"_links":{"self":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/23308","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\/19"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/comments?post=23308"}],"version-history":[{"count":1,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/23308\/revisions"}],"predecessor-version":[{"id":23310,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/posts\/23308\/revisions\/23310"}],"wp:attachment":[{"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/media?parent=23308"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/categories?post=23308"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cannontrading.com\/tools\/support-resistance-levels\/wp-json\/wp\/v2\/tags?post=23308"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}