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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.
OIL OPTIONS
Crude ATM implied volatility has rebounded over the last few days as the market has switched focus from a potential demand recovery to global economic concerns.
- Russian oil output concerns, tomorrow’s OPEC JMMC meeting and US Fed meeting all add to the market uncertainty. Russian exports have recovered in recent weeks despite current sanctions but there are concerns for the impact of the EU ban on seaborne Russian oil products from 5 Feb.
- Brent second month volatility increased from 38.2% on 26 Jan up to 40.4% while WTI has increase from 39.1% to 41.9% in the same period.
- The premium to cover downside crude moves has held relatively stable for most of this month. The second month Brent call-put skew has closed slightly this week to -3.5% while the WTI skew is in to around -4.1%.
- The Brent Dec23 call-put skew has edged higher to around -5.1% and the WTI Dec23 skew is around -6.2%.
- Brent APR 23 down -1.3% at 83.42$/bbl
- WTI MAR 23 down -1.4% at 76.78$/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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