CNM Forecast + Trading Strategies


Bullish Case: Institutional interest is strong, recent price action is trending, and the price forecast is positive (+0.33%). Volatility surfaces show potential stabilization.


Bearish Case: Recent price declines (-17.5% last week) and options term structure in backwardation suggest caution. Analysts have mixed ratings, indicating potential downside.


Potential Outcomes:

1. Price increases due to strong fundamentals (45%).

2. Price stabilization due to institutional interest (35%).

3. Further declines due to macro uncertainties (20%).


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June 07, 2024


Core & Main Forecast

CNM      Core & Main











Correlated Assets

Assets that tend to move strongly with CNM



APH Forecast + Options Trading Strategies   APH  Amphenol (0.97)


PH Forecast + Options Trading Strategies   PH  Parker-Hannifin (0.97)


HWM Forecast + Options Trading Strategies   HWM  Howmet Aerospace (0.96)


COOP Forecast + Options Trading Strategies   COOP  Mr. Cooper (0.96)


CRH Forecast + Options Trading Strategies   CRH  CRH Plc (0.96)



Uncorrelated Assets

Assets with little price relationship to CNM



KIRK Forecast + Options Trading Strategies   KIRK  Kirkland's (0.01)


RHI Forecast + Options Trading Strategies   RHI  Robert Half International (0.01)


LSXMK Forecast + Options Trading Strategies   LSXMK  Liberty Media Corp. (Tracking Stock - SiriusXM) Series C (-0.01)


CF Forecast + Options Trading Strategies   CF  CF Industries (-0.01)


CWH Forecast + Options Trading Strategies   CWH  Camping World (-0.01)



Anticorrelated Assets

Assets that tend to move strongly against CNM



AGL Forecast + Options Trading Strategies   AGL  Agilon Health (-0.89)


UVXY Forecast + Options Trading Strategies   UVXY  ProShares Ultra VIX Short-Term Futures (-0.9)


SDOW Forecast + Options Trading Strategies   SDOW  ProShares UltraPro Short Dow30 (-0.92)


VIXY Forecast + Options Trading Strategies   VIXY  ProShares VIX Short-Term Futures (-0.92)


SPXS Forecast + Options Trading Strategies   SPXS  Direxion Daily S&P 500 Bear 3X Shares (-0.95)





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