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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
Crude near term put skews narrow further amid escalation risks and supply concerns following the US and UK strikes on Houthi rebel targets in Yemen.
- Brent front month has today risen to the highs of the year and first resistance at 79.41$/bbl with key resistance at the Dec 26 high of 81.45$/bbl.
- Brent crude second month 25 delta call-put skew has today narrowed to -1.33% compared to -3.2% at the start of the year. The WTI second month 25 delta call-put skew has closed to -1.6% from nearly -4% at the start of Jan.
- The Brent Dec24 crude option call-put skew also continues to narrow to the highest since Jun 2022 at -5.2% while the WTI spread is up to -5.9%.
- Brent call option volumes rose yesterday taking the daily aggregate option volumes up to 179k with WTI options volumes up to 119k after a dip lower in recent days. Brent aggregate futures volumes were yesterday the highest since Dec 6 at 1.15m while WTI futures steady at 0.90.
- Brent MAR 24 up 2.6% at 79.42$/bbl
- WTI FEB 24 up 2.8% at 74.06$/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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