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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 second month crude options call-put skew is holding steady with market focus still on central back rate hikes and on demand concerns rather than OPEC production cuts. The FOMC is expected to hike rates another 25bp on Wednesday and then possibly signal that it will pause.
- The Brent second month 25 delta call-put skew is today hovering around -6.0% with the WTI skew at -6.7%.
- The Dec23 skews has closed slightly in the last week with Brent up from -6.5% to -5.4% and WTI up from -7.5% to -6.6%. Despite demand uncertainty many analysts still expect a tighter market in the second half of this year with OPEC cuts starting this month and with a potential recovery in Chinese demand.
- ATM implied volatility has fallen back from last week with Brent second month volatility now at 35.3% and WTI at 36.6%.
- Brent JUL 23 down -0.1% at 79.25$/bbl
- WTI JUN 23 down -0.2% at 75.53$/bbl
- WTI-Brent down -0.08$/bbl at -3.86$/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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