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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
Brent crude opens aggregate open interest has seen a gradual increase from lows seen in November with call volumes the highest since earlier 2020 and put volumes the highest since Apr 2022.
- The aggregate open interest across all ICE Brent options is up to 1.754m for calls and 1.081m for put contracts. Compared to early last month call positions have been mostly added at the 75$/bbl, 80$/bbl and 90$/bbl strikes.
- Crude oil volatility is down again today with futures prices holding within a tight range after the surge higher at the start of the week with global demand concerns balanced against tighter supplies from next month. Second month ATM Brent implied volatility is down at 35.4% from a high of 47.8% in mid March and WTI is down to 36.5% from 51.3%.
- The Brent and WTI second month 25 delta call-put skews are both hovering around -6% and relatively unchanged in the last couple of days. The Brent Dec23 skew is around -6.1% and WTI at -7.0%.
- Brent JUN 23 down -0.1% at 84.92$/bbl
- WTI MAY 23 down -0.1% at 80.5$/bbl
Source: MNI / 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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