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Brent Option Volumes Steady But With Focus on Lower Strikes

OIL OPTIONS

Brent crude options aggregate open interest is relatively similar to this time last month but with a lower average strike price for the open positions. The aggregate open interest across all ICE Brent options is at 1.539m for calls and 1.104m for put contracts.

  • Compared to early last month call option positions have reduced at numerous strikes between 100$/bbl and 125$/bbl with new positions added between 75$/bbl and 85$/bbl.
  • Put options have been added between 50$/bbl and 70$/bbl but have fallen at strikes between 75$/bbl and 85$/bbl.
  • The main open put option positions are unchanged from last month and sit between 60$/bbl to 75$/bbl and the main call volumes are between 80$/bbl and 100$/bbl.


Source: Bloomberg

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