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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 crude options put skews have steadied this week after narrowing since November amid Middle East escalation risks and Red Sea shipping disruption. Upside market risks have been muted by concerns for slower central bank interest rate cuts and weak China demand after below expectation growth data this week.
- Brent crude second month 25 delta call-put skew is around -1.95% today from as narrow as -1.1% earlier this week. The WTI second month 25 delta call-put skew has also turned slightly more bearish again falling from -2.5% on Jan 16 to -3% today.
- The Brent Dec24 crude option call-put skews are stable this week with Brent holding around -5.1% and the WTI spread is at -5.8%.
- Brent aggregate option volumes have been fairly strong in the last couple of days supported by calls slightly greater than puts. Brent options were at 174k yesterday and WTI at 90k. Brent traded volumes were yesterday in line with normal levels at 0.97m while the WTI volume was 0.84m.
- Brent MAR 24 up 0.6% at 79.61$/bbl
- WTI FEB 24 up 0.8% at 74.65$/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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