Nasdaq 100 Remains Steady While Crude Oil Sinks Amid a Flurry of Trump Executive Orders
Nasdaq 100 Remains Steady While Crude Oil Sinks Amid a Flurry of Trump Executive Orders
Also, 10-year T-note, gold, crude oil and euro futures
- Nasdaq 100 E-mini futures (/NQ): +0.14%
- 10-year T-note futures (/ZN): +0.22%
- Gold futures (/GC): +0.77%
- Crude oil futures (/CL): -1.93%
- Canadian dollar futures (/6C): +0.53%
Day One of the second Trump presidency is in the rearview mirror, and with it came a flurry of executive orders aimed at reshaping the U.S. economy. Directives to increase U.S. energy supply, reduce immigration and alter trade with Canada and Mexico have already been set forth. Perhaps what wasn’t ordered matters just as much: None of the executive orders related to crypto or tariffs on Chinese goods. In conjunction with the latter, the EO aimed at delaying enforcement of the TikTok ban is setting the stage for the administration to act less aggressively toward China than anticipated.
Symbol: Equities | Daily Change |
/ESH5 | +0.39% |
/NQH5 | +0.14% |
/RTYH5 | +1.23% |
/YMH5 | +0.64% |
U.S. stock futures rose this morning as traders brushed aside the potential impact of tariffs and focused instead on the potential economic benefits from increased fiscal spending, deregulation and tax cuts. Nasdaq futures (/NQH5) rose 0.6% ahead of the opening bell. 3M (MMM) rose nearly 5% after the industrial company reported better-than-expected corporate earnings results. Netflix (NFLX) will report after the bell.
Strategy: (38DTE, ATM) | Strikes | POP | Max Profit | Max Loss |
Iron Condor | Long 21300 p Short 21400 p Short 21900 c Long 22000 c | 18% | +1575 | -425 |
Short Strangle | Short 21400 p Short 21900 c | 51% | +14725 | x |
Short Put Vertical | Long 21300 p Short 21400 p | 59% | +680 | -1315 |
Symbol: Bonds | Daily Change |
/ZTH5 | 0% |
/ZFH5 | +0.08% |
/ZNH5 | +0.22% |
/ZBH5 | +0.53% |
/UBH5 | +0.82% |
Treasury futures rose across the curve, with traders pricing in a softer-than-expected path on tariffs. The 10-year T-note futures (/ZNH5) rose 0.3% in morning trading. President Trump appears reluctant to place tariffs on China immediately, but it is still the early days of the administration. If the news flow on tariffs remains positive, it could help to push yields lower in the coming weeks. The Treasury will auction off 52-week bills today.
Strategy (31DTE, ATM) | Strikes | POP | Max Profit | Max Loss |
Iron Condor | Long 107.5 p Short 108 p Short 109.5 c Long 110 c | 36% | +312.50 | -187.50 |
Short Strangle | Short 108 p Short 109.5 c | 55% | +968.75 | x |
Short Put Vertical | Long 107.5 p Short 108 p | 73% | +156.25 | -343.75 |
Symbol: Metals | Daily Change |
/GCG5 | +0.08% |
/SIH5 | +0.77% |
/HGH5 | -0.89% |
Gold prices (/GCG5) were lower this morning despite weaker Treasury yields and a softer U.S. dollar. Traders are instead pushing capital into equity markets amid positive news on tariffs and trade. It’s a typical risk-on atmosphere going into the New York session, which should keep gold prices suppressed for the time being.
Strategy (35DTE, ATM) | Strikes | POP | Max Profit | Max Loss |
Iron Condor | Long 2735 p Short 2740 p Short 2780 c Long 2785 c | 14% | +430 | -70 |
Short Strangle | Short 2740 p Short 2780 c | 55% | +8440 | X |
Short Put Vertical | Long 2735 p Short 2740 p | 64% | +200 | -300 |
Symbol: Energy | Daily Change |
/CLG5 | -1.93% |
/HOG5 | -2.98% |
/NGG5 | -3.7% |
/RBG5 | -0.61% |
Crude oil prices (/CLH5) fell over 2% this morning as traders assessed how delayed tariffs on Canadian imports would affect the U.S. oil complex. Geopolitical risks also receded after Houthis said they would stop attacking commercial ships not linked to Israel. Inventory data from the American Petroleum Institute (API) is due later today.
Strategy (29DTE, ATM) | Strikes | POP | Max Profit | Max Loss |
Iron Condor | Long 73.5 p Short 73.75 p Short 77 c Long 77.25 c | 20% | +200 | -50 |
Short Strangle | Short 73.75 p Short 77 c | 54% | +3760 | X |
Short Put Vertical | Long 73.5 p Short 73.75 p | 57% | +110 | -140 |
Symbol: FX | Daily Change |
/6AH5 | +0.91% |
/6BH5 | +1.06% |
/6CH5 | +0.53% |
/6EH5 | +1.16% |
/6JH5 | +0.38% |
Canadian dollar futures (/6CH5) rose this morning after it was revealed Trump wouldn’t levy tariffs on Canada until February instead of immediately. The move sent the Canadian currency to the highest levels since December, but much of the gains were quickly trimmed as trading in New York kicked off. For now, the Canadian dollar remains in a technically vulnerable position with prices trading near the low end of a range carved out since mid-December.
Strategy (45DTE, ATM) | Strikes | POP | Max Profit | Max Loss |
Iron Condor | Long 0.685 p Short 0.69 p Short 0.705 c Long 0.71 c | 40% | +280 | -220 |
Short Strangle | Short 0.69 p Short 0.705 c | 57% | +810 | x |
Short Put Vertical | Long 0.685 p Short 0.69 p | 73% | +140 | -360 |
Thomas Westwater, a tastylive financial writer and analyst, has eight years of markets and trading experience. #@fxwestwater
Christopher Vecchio, CFA, tastylive’s head of futures and forex, has been trading for nearly 20 years. He has consulted with multinational firms on FX hedging and lectured at Duke Law School on FX derivatives. Vecchio searches for high-convexity opportunities at the crossroads of macroeconomics and global politics. He hosts Futures Power Hour Monday-Friday and Let Me Explain on Tuesdays, and co-hosts Overtime, Monday-Thursday. @cvecchiofx
For live daily programming, market news and commentary, visit tastylive or the YouTube channels tastylive (for options traders), and tastyliveTrending for stocks, futures, forex & macro.
Trade with a better broker, open a tastytrade account today. tastylive Inc. and tastytrade Inc. are separate but affiliated companies.
Options involve risk and are not suitable for all investors. Please read Characteristics and Risks of Standardized Options before deciding to invest in options.
tastylive content is created, produced, and provided solely by tastylive, Inc. (“tastylive”) and is for informational and educational purposes only. It is not, nor is it intended to be, trading or investment advice or a recommendation that any security, futures contract, digital asset, other product, transaction, or investment strategy is suitable for any person. Trading securities, futures products, and digital assets involve risk and may result in a loss greater than the original amount invested. tastylive, through its content, financial programming or otherwise, does not provide investment or financial advice or make investment recommendations. Investment information provided may not be appropriate for all investors and is provided without respect to individual investor financial sophistication, financial situation, investing time horizon or risk tolerance. tastylive is not in the business of transacting securities trades, nor does it direct client commodity accounts or give commodity trading advice tailored to any particular client’s situation or investment objectives. Supporting documentation for any claims (including claims made on behalf of options programs), comparisons, statistics, or other technical data, if applicable, will be supplied upon request. tastylive is not a licensed financial adviser, registered investment adviser, or a registered broker-dealer. Options, futures, and futures options are not suitable for all investors. Prior to trading securities, options, futures, or futures options, please read the applicable risk disclosures, including, but not limited to, the Characteristics and Risks of Standardized Options Disclosure and the Futures and Exchange-Traded Options Risk Disclosure found on tastytrade.com/disclosures.
tastytrade, Inc. ("tastytrade”) is a registered broker-dealer and member of FINRA, NFA, and SIPC. tastytrade was previously known as tastyworks, Inc. (“tastyworks”). tastytrade offers self-directed brokerage accounts to its customers. tastytrade does not give financial or trading advice, nor does it make investment recommendations. You alone are responsible for making your investment and trading decisions and for evaluating the merits and risks associated with the use of tastytrade’s systems, services or products. tastytrade is a wholly-owned subsidiary of tastylive, Inc.
tastytrade has entered into a Marketing Agreement with tastylive (“Marketing Agent”) whereby tastytrade pays compensation to Marketing Agent to recommend tastytrade’s brokerage services. The existence of this Marketing Agreement should not be deemed as an endorsement or recommendation of Marketing Agent by tastytrade. tastytrade and Marketing Agent are separate entities with their own products and services. tastylive is the parent company of tastytrade.
tastycrypto is provided solely by tasty Software Solutions, LLC. tasty Software Solutions, LLC is a separate but affiliate company of tastylive, Inc. Neither tastylive nor any of its affiliates are responsible for the products or services provided by tasty Software Solutions, LLC. Cryptocurrency trading is not suitable for all investors due to the number of risks involved. The value of any cryptocurrency, including digital assets pegged to fiat currency, commodities, or any other asset, may go to zero.
© copyright 2013 - 2025 tastylive, Inc. All Rights Reserved. Applicable portions of the Terms of Use on tastylive.com apply. Reproduction, adaptation, distribution, public display, exhibition for profit, or storage in any electronic storage media in whole or in part is prohibited under penalty of law, provided that you may download tastylive’s podcasts as necessary to view for personal use. tastylive was previously known as tastytrade, Inc. tastylive is a trademark/servicemark owned by tastylive, Inc.