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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
Downside crude oil concerns and declining future prices have driven the near term options put skew to the largest since November.
- The crude second month skew has moved towards cover of the downside with market focus global economic concerns. The Brent 25 delta call-put skew at -5.7% is the most bearish since November when the skew briefly fell as low as -5.8%. The second month WTI skew has fallen as low as -6.15%.
- The Brent Dec23 skew has drifted lower but the move is more muted with support from an expected recovery in oil demand in China. The Brent call-put skew is down to -4.6% 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 32.9% on 2 Mar up to 38.9% and WTI up to 40.3%.
- Brent MAY 23 down -1.8% at 81.29$/bbl
- WTI APR 23 down -1.9% at 75.2$/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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