Strategy and Tactics

The Setup

Late in the trend. Fifth-wave thrust to new highs. The price structure confirmed a horizontal bullish triangle, and the Technical Event Model flagged copper in breakout mode — Technical Event #4 supporting carryover above 195. That breakout has now occurred, with yesterday's gap-higher opening leaving an island reversal below it and trapping short sellers. We continue to expect a deflationary downdraft in June, but unresolved upside targets of 235–240 remain in play before commodities broadly peak, likely between now and end of June.

Open Positions — Performance to Date

May 29 Copper Call, Strike 165 — Entered at $8.00–$9.50 range. Pre-open May 27, 2026, intrinsic value is approximately $24.88. Target: $60–$70 intrinsic value. Has to happen fast given Friday expiration.

June 5 Copper Call, Strike 165 — Entered mid-range approximately $10.20. Pre-open May 27, 2026, closing bid approximately $23.90. Target: same breakout objective.

Both positions are showing handsome profits. Stop on both: any move then we'll close the gap on SCCO. Should be used as to exit. Else, the target would be used for profit-taking.

Tactical Adjustments

May 29 expiration (Friday): You have several options. You can take profits outright, let it ride into expiration and allow exercise — saving bid/offer spread and transaction cost — or work a roll. For those rolling: we suggest going out two weeks and down one to two strikes, retaining comparable leverage. Specific vehicles and strikes to be confirmed prior to publication.

June 5 expiration: A clean profit is on the table. For those with multiple contracts, consider taking partial profits on one lot and rolling the remainder out two weeks, down a strike or two. Same logic — preserve leverage, extend the runway toward the 235–240 target.

Both rolls are directional — we are not abandoning the copper thesis. We simply need more time on the clock.

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The copper trade above isn't a one-off. It's the standard. Members opened the May 29 and June 5/ 165 calls between $8.00 and $10.20, and walked into this week with both positions showing handsome profits with the 235–240 SCCO target still in play. Price, volatility, and timing — the three pieces no one else integrates — flagged this setup before the breakout, not after.

Strategy & Tactics is where the specific trades live: entries, exits, rolls, and the tactical adjustments that turn analysis and forecast into a position. Copper today. Junk bonds, rare minerals, currencies, energy next. With Agentic AI monitoring for both of our points of view every position gains real time, the bandwidth problem goes away — more setups covered, more markets watched, nothing slipping through.

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This trade and all future positions will be logged and monitored by Agentic AI for ongoing track record compilation, with alerts triggered tactic changes when either side of the exit wrapper is hit.

Great and many thanks,

Jack F. Cahn, CMT+

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