Consider buying a put option on August lean hog futures.
See on the daily bar chart for August lean hog futures that prices have backed down from the recent record high and also formed a bearish double-top reversal in the process. It’s my bias that a major market top is in place and that hog futures prices will drift sideways to lower in the coming weeks and few months. Consider buying a put option on August lean hog futures, with a downside price objective of $110.00 or below. The option expires in mid-August.
