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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
The second month Brent call-put skew falls to the widest since Dec 2021 with the market looking for increasing downside protection.
- The crude second month skew has moved even further towards the downside with market focus global economic concerns. The Brent 25 delta call-put skew reached a low of -8.6% today with the second month WTI skew as low as -8.9%.
- The Brent Dec23 skew is also falling but slower than the front of the curve with some support from an expected recovery in oil demand from China. The Brent Dec23 call-put skew is down to -5.4% from -3.4 at the start of the month.
- Market uncertainty and price swings have resulted in a rise in ATM implied volatility. Brent second month volatility is up from around to 46.6% and WTI up to 49.8%.
- Brent MAY 23 down -4.6% at 73.86$/bbl
- WTI APR 23 down -5% at 67.75$/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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