Consider buying a put option on May cotton futures.
See on the daily bar chart for May ICE cotton futures that prices have seen a big increase in volatility this week, to produce a bearish broadening pattern. This week’s price action is also a clue that the bulls have become exhausted with their recent upside push. The bottom could fall out in a hurry in this market. Consider buying a put option on May cotton futures, with a downside price objective of 86.00 cents, or below. The option expires in mid-April.
