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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
Brent crude call options volumes rose to a record yesterday after the retaliatory attacks by Iran on Israel at the weekend despite calls from EU and US to avoid an escalation.
- The aggregate Brent call traded volume was 457k yesterday with a record 349k of calls. The total volume was the highest since March 2023 and the fourth highest on record.
- June 95$/bbl calls traded more than 50k across a variety of strategies including some rolled to future months according to Bloomberg.
- Brent and WTI call skews have regained strength after a dip lower earlier in the day yesterday. The Brent crude second month 25 delta call-put skew is now the most bullish since October at +4.75% while the WTI second month skew is up to about +6.1%.
- Options volatility has increased this month from a low in late March as the market looks for upside protection against escalating Middle East risks. The WTI second month ATM implied volatility has rallied from 23.6% to the highest since early February at 30.5%.
- Brent JUN 24 down 0.6% at 89.59$/bbl
- WTI MAY 24 down 0.6% at 84.86$/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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