Consider buying a put option on July cotton (CTN26) futures. See on the daily bar chart for July cotton futures that prices have just hit a multi-month high. However, there are now longer-term technical resistance layers that lie just above present prices, and which have turned back price rallies over the past couple years. Also, the relative strength index (RSI) shows the cotton market is into overbought territory (above 70.0) and is at least due for a downside correction. It’s my bias that the recent ra ...