Consider buying a put option on July ICE cotton futures.

 

See on the daily bar chart for July cotton futures that prices have backed off the recent high, including a bearish buying “exhaustion tail” formed in late March. It appears this market is “rolling over” from its uptrend. Consider buying a put option on July cotton futures, with a downside price objective of 86.00 cents, or below. The option expires in late-June.

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