Free Trial
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
The crude option skews are near the biggest put skew seen since June as front month futures drift down towards technical support levels. Current weakness is due to economic concerns in US and China combined with high flows out of Iran and optimism around a return of Iraqi flows via Turkey.
- Brent OCT 23 down -1.4% at 82.86$/bbl
- WTI OCT 23 down -1.5% at 78.47$/bbl
- First technical support for Oct23 Brent is at the 3 Aug low of 82.36$/bbl and WTI at 78.33$/bbl.
- The second month WTI 25 delta call-put skew is edging down to -4.7% compared to -2.85% on 11 Aug while the Brent skew is down from -2.7% to -3.9%.
- The Dec24 call-put skews are also lower with the Brent call-put skew down to -6.9% and the WTI skew is today at -7.3%.
- The Brent second month implied volatility yesterday reach the lowest since Jan 2020 at 26.0% today while WTI ATM second month implied volatility was 28.15%.
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.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok