Mid-May Check-In

By Craig Bewick
MAY 14 2021

After the dust settles from a volatile week of trading, we thought it was a good time for a mid-May check in to see what the net volatility and price changes have been in some of CME Group’s major products Month to Date.  While it certainly hasn’t been a straight line, the net changes have actually been fairly muted over the first two weeks of the month as you can see in the chart below that was built using QuikStrike data. 

  • E-mini Nasdaq-100 futures prices declined but recovered much of the losses that we saw earlier in the week.  Implied volatility rose modestly.
  • Gold futures prices rose, as did implied volatility in the options markets
  • Grains markets, which have been very active over the last several months, saw volatility decline after the WASDE report release on Wednesday
  • Bitcoin futures prices are down 12% and volatility is up substantially.  Most of this move occurred after Elon Musk tweeted about Bitcoin on Wednesday evening

We hope all of our In FOCUS readers a happy and safe weekend and we’ll see you on Monday to see what next week brings. 

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. 

Connect with Craig at activetrader@cmegroup.com

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