Daily Market Price Updates and Commentary 7th July 2026

There was little excitement through the early part of todays session as Oct’26 continued to sit just shy of the recent 15.25 high mark, consolidating as traders hoped to find the required buying that might send values higher again. With nothing doing there was an element of position liquidation creeping in by late morning and this sent the price back a touch further to 15.05, though overall the picture remained relatively solid. Into the afternoon the status quo remained with specs/funds showing no real interest, though this changed a couple of hours later as an aggressive burst of buying arrived. It proved to be briefly effective with thousands of lots thrown at Oct’26 and a new recent high mark at 15.29 reached, though quickly there was some small trader position closing taking place and the resultant selling took us back into the teens and where we started from. It did at least lead to a little more movement across the rest of the afternoon, though all activity remained within the earlier established range. The close saw Oct’26 pushed back into the teens, ending the day lower at 15.14 though with broad parameters unmoved.  

An opening push to $481.30 moved the market within 0.10c of last weeks high, however the effort quickly unravelled and through the first hour the market lost $10. Naturally, this did not inspire any confidence and so the rest of the morning saw continuing pressure being applied which in a whin environment managed to send the price down through yesterdays lows and reach $462.60. This represented a huge range for morning trading, with the losses bearing no relation to the No.11 picture and so hinting at panic selling from long holders of the white premium, with Oct/Oct’26 all the way back to $131.00. There was not the same level of movement into the afternoon, and a calmer environment saw prices moving around within the $460’s, stemming the decline though not in a way that will have provided any real comfort to bulls. Alongside the flat price volatility, we had seen Aug/Oct’26 holding a tighter band between $10.80/$8.50, the market having found a comfortable level to sit at, at least until any late pre-expiry shenanigans take place. Pressure was reapplied to the market during the final stages to leave Oct/Oct’26 back in the lower $130’s and suggesting that the recent rally was overstated, with Oct’26 settling at $466.90.