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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
OIL OPTIONS – The downside near term crude put skew narrows again after last week falling to the most bearish since the start of the year. Despite the narrowing today, the near term bearish skews have net widened since mid Jan to cover for downside risks from global demand concerns and a potential supply surplus. Front month futures last week rallied to highs for the year so far on geopolitical risks.
- The Brent crude second month 25 delta call-put skew is today around -2.4% down from nearly -3% last week. The WTI second month 25 delta call-put skew is today at -3.6% from -4.15% last week.
- The Brent Dec24 skew narrows slightly again to continue the trend in place since early December. The Brent Dec24 call-put skew is today the least bearish since May 2022 at -4.45% while the WTI Dec24 skew is -5.6%.
- Crude traded volumes are low today due to the US holiday after seeing near normal volumes on Friday. The Brent aggregate daily traded volume was at 1.03m and options at 197k and the WTI futures volume was 1.01m and options at 98k on Friday.
- Brent APR 24 down -0.6% at 82.96$/bbl
- WTI APR 24 down -0.6% at 77.97$/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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