September Recap

By Craig Bewick
SEP 30 2020

And that’s a wrap on a September that, for the most part, lived up to its reputation of equity market volatility.  Using QuikStrike data, we put together the Month in Review chart, the format of which should be familiar to regular users.  While the chart depicts beginning and ending values for price, volatility and skew, they certainly didn’t get from 8/31 to today in a straight line; there was a lot of up and down throughout the month in a handful of these markets.  As you can see from the chart, once the dust settled (at least where the dust was in mid-afternoon trading), we observe the following:

  • Price declines in both E-mini S&P 500 and Nasdaq-100 futures but the volatility in the options markets rose in the S&P and declined in the Nasdaq
  • WTI Crude Oil prices declined and options volatility rose substantially
  • CME Group Ag markets were active – Soybean futures prices and volatility both rose during the month

While we certainly want to be careful not to offer a political opinion, we think it’s safe to say that if last night’s first Presidential debate was an indication of what to expect from now until November 3rd, we’re in for an interesting month.  We’ll be here to report on the impacts that the election and all of the other global goings-on have on CME Group markets. 

 

ABOUT THE AUTHOR

Craig Bewick has spent 25 years in futures and options markets, starting at CBOT and CME working in risk management, regulatory, technology, product management and client development. 

After 8.5 years with WH Trading LLC, Craig returned to CME Group as the Director, Client Development and Sales, working to educate and promote futures trading. Craig currently writes for InFocus Options Corner.

Connect with Craig at activetrader@cmegroup.com

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