As we approach the final stretch of the year, the market is buzzing with speculations and predictions. No surprises here, as the Federal Open Market Committee (FOMC) continues to shape the economic landscape. Amid all the chatter, a particular trend has been capturing attention: the potential for a 50 basis point hike by December 25th.

The Commodity Futures Market is showing interesting movements with the SFRZ5 contract holding steady at 96.125, indicating a range-bound expectation for the coming months. This kind of stability leads traders to look at more complex strategies to capitalize on smaller price movements, and one such strategy has caught the eye.

A Condor spread involving SFRZ5—specifically a 95.875/96.125/96.375/96.625 call Condor—is drawing attention. This spread is currently priced at 6.25 with a 20k contract size, offering a potentially interesting risk/reward profile for traders looking to profit from price action within this tight range.

The Condor spread is particularly attractive for those expecting minimal price fluctuation. The narrow strike widths suggest that market participants are not anticipating large moves, but rather looking to capitalize on subtle shifts. With the underlying asset hovering near 96.125, the Condor spread seems to capture the sentiment of a market that’s uncertain but not overly volatile in the short term.

What will this strategy be worth in the coming weeks? Only time will tell, but the mechanics of the Condor, paired with expectations of steady market conditions, make it a fascinating play to watch.

With December just around the corner, traders will keep their eyes peeled for any hints from the FOMC that might push the market one way or another. Until then, strategies like the Condor offer a glimpse into the ways traders are positioning themselves in anticipation of what’s to come.