Consider buying a put option on August live cattle futures.
See on the daily bar chart for August live cattle futures that prices spiked to a new high this week but then backed off quickly as the bulls appear to have become exhausted. A bearish buying “exhaustion tail” has formed on the daily bar chart, to suggest a market top is in place. Consider buying a put option on August live cattle futures, with a downside price objective of $132.00, or below. The option expires in early August.
