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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 oil options implied volatility and skews remains steady ahead of the OPEC+ meeting.
- Second month ATM implied volatility has remained largely unchanged in the last few days since 30 May with the market currently expecting OPEC+ to leave production targets unchanged at the ministerial meeting over the weekend.
- Brent second month implied volatility is holding around 38% but up from levels below 35% seen earlier in May. WTI second month ATM implied volatility is around 39.1%.
- The near term call-put skews are holding onto the slightly less bearish tone than seen earlier in May with the Brent second month 25 delta second month skew at around -4.6% compared to lows of -6.9% in early May. The WTI skew is holding around -5%.
- The longer dated skews also remain relatively unchanged with the OPEC+ production risks weighed against US and China demand uncertainty. The Brent Dec23 call-put skew is trading around -4.9% and WTI at -5.8%.
- Brent AUG 23 up 1.5% at 75.39$/bbl
- WTI JUL 23 up 1.6% at 71.2$/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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