OPTIONS: US Options Roundup - Jun 12 2026

• WTI has lost ground on the day but remains in 3-day range as the market digests the impacts of the US-Iran war, with the IEA flagging record inventory draws.
• WTI Jun 26 is down by 1.2% at $101.0/bbl.
• Shipments from Iran's main export terminal Kharg Island appear to have come to a standstill over the past several days, according to satellite images, the first sign of a prolonged halt since the start of the war.
• As President Trump departs for his summit with Xi in Beijing, his rhetoric has sharpened. He signalled that high gas prices will not force him into a peace deal.
• The primary bull cycle in WTI futures remains intact, despite the latest pullback. Key resistance and the bull trigger has been defined at $110.93, the Apr 30 high.
• On the downside, key support is seen at $90.96, the 50-day EMA, which has been pierced. A clear break of the 50-day average is required to signal scope for a deeper retracement.
• Meanwhile, gold has edged down today, as the US dollar has traded with a firmer tone amid the lingering middle east uncertainties.
• Spot gold is down by 0.6% at $4,688/oz.
• Gold continues to trade above its recent lows, although a bearish tone remains intact. A continuation of the move lower would signal scope for a move towards $4,306.4, the Mar 24 low.
• On the upside, a stronger reversal higher would resume the correction that started on Mar 23 and open the $5,000.0 handle.

The NY Fed has released its schedule for the next month of Reserve Management Purchases of bills (link)

• "The Desk plans to conduct approximately $16.3 billion in reinvestment purchases and an additional approximately $10 billion in reserve management purchases over the noted monthly period."
• For the Fed's Reserve Management Purchases of bills, the $10B in planned purchases in the coming month is well down from $25B last month and $40B from the prior 4 months that kicked off the reserve purchases, and at the low end of expectations that we'd seen which had largely been for a $5B to $10B reduction to $15B - $20B/month.

• RES 4: 187.95 High Apr 17 and the bull trigger   
• RES 3: 187.56 High Apr 30
• RES 2: 186.56 76.4% retracement of the Apr 17 - May 6 bear leg  
• RES 1: 185.70/186.07 76.4% of Apr 17 - May 6 bear leg / Low Apr 28 
• PRICE: 184.84 @ 16:10 BST May 13
• SUP 1: 183.50/182.05 Low May 07 / 06 and a bear trigger
• SUP 2: 181.87 Low Mar 16 and a key support
• SUP 3: 181.42 Low Feb 18 
• SUP 4: 180.81 Low Feb 12 and a key M/T support  

EURJPY is holding on to its recent gains. The latest recovery has resulted in a breach of the 50-day EMA - currently at 184.89. The break is a bullish development and undermines the recent bearish threat. Note that the cross has also pierced the 20-day EMA. A continuation higher would open 187.95, the Apr 17 high and the bull trigger. Key support has been defined at 182.05, the May 6 low.