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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
Crude options are still holding a steady put skew despite the rally in crude future back to the highest since May 29 amid tighter crude balances expectation and with potential improving summer fuel demand. The option skews have stabilised after rebounding from the bearish reaction to the OPEC meeting at the start of the month.
- The Brent crude second month 25 delta call-put skew has edged slightly narrower this week to -1.8% and the WTI second month skew is around -2.7%.
- The Dec24 call-put skews are relatively unchanged with Brent at -2.8% and WTI at -3.65%.
- Crude at the money implied volatility has fallen further this week and still the lowest since 2019. Brent second month volatility is down to 21.0% while WTI is down to 21.6%.
- Aggregate crude traded volumes have risen in recent days with Brent up from a low of 0.82k on June 7 to 1.29m yesterday and WTI rising up to 1.11m yesterday. Options volumes have however help near normal levels with Brent averaging 153k and WTI 121k in the last week.
- Brent AUG 24 down 0.2% at 84.11$/bbl
- WTI JUL 24 down 0.2% at 80.2$/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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