Light Sweet Crude Oil (WTI) Futures and Options

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NYMEX WTI (CL), the world’s most liquid crude oil benchmark, provides access to global crude oil pricing with the most diverse set of futures and options contracts. With WTI now firmly reconnected to global energy markets, open interest continues to grow as customers hedge their oil market risk.

Product Last Change Chart Globex Vol
51.37 -0.10 Show Price Chart 490,001

Growth of WTI Liquidity in the Forward Curve

By Qifan Wu, Ricky Li, and Elizabeth Hui
Report Highlights:

  • Rising liquidity in WTI long-term maturity contracts since 2013
  • Annualized year-over-year spread tightened by 20%, order quantity up more than 40%
  • Soaring volume and open interest
  • Extremely liquid WTI short-term maturity contracts from the spot month through the first year
  • Increasing interest in the liquidity of the longer maturity contracts two and three years forward

WTI and the Changing Dynamics of Global Crude Oil

Key Benefits

Most Liquid Benchmark

NYMEX WTI Crude Oil futures (CL) are the world’s most liquid energy futures contract, with average daily volume of nearly 1.1 million and open interest of over 2 million contracts.

Deep Options Liquidity

WTI Crude Oil options (LO) boast average daily volume of over 180,000 contracts, with 75% traded electronically, and open interest of ~2.8 million contracts.

Precise Hedging

WTI Weekly options (LO1-LO5) give you the precision to manage short-term volatility and event risk at a lower premium. Average daily volume is up 62% in 2016, and open interest is at an all-time high.

An Option to Fit Any Need

Choose the option that best fits your strategy/risk profile with an extensive slate of options on WTI futures,  including American-style, European-style, monthly, weekly, daily, calendar spread, inter-commodity spread, average price, and futures strip options.

Globex ClearPort Product Name Exchange Volume Open Interest
LO LO Crude Oil Options NYMEX 175,510 2,616,934
LO1 LO1 Crude Oil Weekly Options Wk 1 NYMEX 585 1,708
LO2 LO2 Crude Oil Weekly Options Wk 2 NYMEX 491 697
LO3 LO3 Crude Oil Weekly Options Wk 3 NYMEX 0 0
LO4 LO4 Crude Oil Weekly Options Wk 4 NYMEX 4,650 7,990
LO5 LO5 Crude Oil Weekly Options Wk 5 NYMEX 0 0
B7A 7A Light Sweet Crude Oil (WTI) Financial 1 Month Spread Options NYMEX 29,500 351,040
LCE LC Light Sweet Crude Oil European Financial Option NYMEX 225 68,049
WJO WJO LLS (Argus) vs. WTI Crude Oil Average Price Option NYMEX 0 7,100
WJO WJO LLS (Argus) vs. WTI Crude Oil Average Price Option NYMEX 0 7,100
AAO AO WTI Average Price Options NYMEX 2,092 313,075
WAY WA WTI Crude Oil 1 Month Calendar Spread Options NYMEX 41,900 659,052
ABV BV WTI-Brent Crude Oil Spread Options NYMEX 2,080 152,257
Trade Date: 23 May 2017 | FINAL

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