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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
OIL OPTIONS
The crude options continue to turn more bearish as the bullish trend in future prices has stalled with focus back on economic growth concerns. The market awaits any announcement from Saudi Arabia on future production plans and September OSP prices.
- The second month Brent 25 delta call put skew has fallen back from a high of around -2.25% on 24 July back to around -4.15% today. The move in WTI second month skew has been more muted but has drifted down to around 4.1%.
- The Brent Dec23 call-put skew is the widest since late June down at -4.45% with WTI Dec23 at -5.05% after a slight recovery higher today.
- The Brent second month implied volatility has recovered slightly from the lowest since January 2020 seen earlier this week. Brent ATM second month implied volatility is today around 28.2% while WTI volatility is at 29.2%.
- Aggregate daily crude traded volumes for Brent and WTI spiked yesterday with the price correction after a dip in volumes earlier in the week.
- Brent OCT 23 down -0.2% at 83.03$/bbl
- WTI SEP 23 down -0.2% at 79.34$/bbl
Source: Bloomberg
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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