- 30 Mar 2021
- By CME Group
Trending product: WTI Crude Oil Options (LO) Volume Trends
- LO ADV is 122k QTD, which is up 22% from Q4 2020 as sustained OPEC production cuts and positive vaccine rollouts have led to an increase in options activity.
- LO ADV during non-US hours was 19% of total LO ADV in February, up from 18% in January.
- LO ADV executed as spreads is 63% of total ADV in 2021 YTD, up from 55% in 2020.
DRFQ utilization is increasing as traders look for improved and streamlined efficiencies to safekeep compliance audit-trails. DRFQ optimizes block trading in privately negotiated, exchange-eligible futures, options, and strategies.
- Utilize CME Direct to connect and privately negotiate block trades.
- Access a single electronic platform for the entire negotiation lifecycle, from inception to block submission.
- Save exportable audit trails for recordkeeping requirements.
This tool provides information about each expiration’s ATM strike, underlying futures price, ATM and 25 Delta risk reversal volatilities, open interest, and volume – including most active strikes and put/call ratios.
This product scope demonstrates the application and flexibility of Weekly options on WTI Crude Oil futures. Weekly options offer a low-cost tool to mitigate risk associated with physical or financial positions.
How are traders using WTI Weeklies in their hedging strategies?
PRODUCT |
EXPIRATION |
CME DIRECT |
BLOOMBERG |
REUTERS |
|---|---|---|---|---|
Crude Oil Weekly options Wk 1 |
01 Apr 2021 – Thu |
LO1 |
CLWA Comdty |
0#CLW+ |
Crude Oil Weekly options Wk 2 |
09 Apr 2021 - Fri |
LO2 |
||
Crude Oil Weekly Options Wk3 |
16 Apr 2021 – Fri |
LO3 |
||
Crude Oil Weekly Options Wk4 |
23 Apr 2021 – Fri |
LO4 |
||
Crude Oil Weekly Options Wk5 |
30 Apr 2021 - Fri |
LO5 |
Pro tip: bookmark the options expiration calendar for future use
What trading strategies do traders use for LO?
Our article Hedging with WTI Crude Oil Weekly Options provides a range of use cases and strategies for weekly WTI options for storage, upstream, and downstream risk management.
Additional questions?
Contact us at energyoptions@cmegroup.com
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