July Options Review

Reviews by Asset Class

Overview

Asset Class

ADV

% YoY

% Globex

Month-End OI

OI % YoY

Total Options

3,618,998

31%

64%

84,639,315

28%

Interest Rates

2,489,205

60%

53%

68,396,091

40%

Equity Index

504,510

-11%

94%

4,043,537

-9%

Agricultural

265,083

-8%

86%

3,733,889

-2%

Energy

221,700

-9%

68%

5,983,776

-9%

Metals

92,502

66%

77%

1,863,048

28%

FX

45,998

-24%

99%

618,974

-15%

Trends & Highlights

  • Though volatility subsided relative to June, options volumes remained strong, +31% YoY
  • Fed policy uncertainty continues to drive huge volumes in Eurodollars options
  • Gold and Silver options were extremely active with volumes +59% and 66% respectively
  • October Lean Hog call skew decreased significantly in July, volume +32%
  • Natural Gas Calendar Spread Options saw volume jump to 5.4K contracts/day, +397% YoY and the highest since January (this trend has continued with ADV growing to over 10K during the first week in August)

Interest Rate Options

 

Symbol

ADV

% YoY

% Globex

Month-End OI

OI % Puts

Eurodollar options

 

1,527,882

66%

37%

61,582,555

51%

Eurodollars (Quarterly/Serial)

GE

1,093,278

106%

37%

44,906,040

53%

1-Year Mid-Curve

GE0

307,300

70%

32%

9,138,954

45%

2-Year Mid-Curve

GE2

76,318

-43%

40%

4,807,026

53%

3-Year Mid-Curve

GE3

46,531

-32%

41%

2,535,770

47%

4-Year Mid-Curve

GE4

2,105

-7%

44%

170,916

57%

10-Year Note

 

594,573

41%

82%

3,688,703

62%

Quarterly/Serial

OZN

436,162

26%

80%

3,243,202

63%

Friday Weekly

ZN1-5

138,274

147%

85%

443,700

58%

Wednesday Weekly

WY1-5

20,137

16%

84%

1,801

54%

5-Year Note

 

228,474

145%

73%

1,951,944

70%

Quarterly/Serial

OZF

169,454

106%

70%

1,733,770

73%

Friday Weekly

ZF1-5

51,406

522%

82%

217,229

51%

Wednesday Weekly

WF1-5

8,239

153%

81%

945

77%

T-Bond

 

115,176

14%

89%

812,965

58%

Quarterly/Serial

OZB

87,365

10%

87%

703,480

57%

Friday Weekly

ZB1-5

24,673

55%

94%

108,832

63%

Wednesday Weekly

WB1-5

3,138

-47%

93%

653

33%

2-Year Note

 

21,670

4%

82%

6,813,536

64%

Quarterly/Serial

OZT

20,949

4%

81%

294,549

69%

Friday Weekly

ZT1-5

95

45%

0%

600

100%

Ultra T-Bond

OUB

1,408

1142%

1%

58,604

97%

Ultra 10-Year Note

OTN

23

N/A

0%

6,171

3%

Fed Funds

 

850

N/A

9%

18,149

97%

Equity Index Options

 

Symbol

ADV

% YoY

Month-End OI

OI % Puts

E-mini S&P 500 options

 

465,586

-9%

3,794,187

75%

Quarterlies

ES

95,378

21%

2,150,998

77%

Monday Weekly

E1A-E5A

36,591

19%

43,962

75%

Wednesday Weekly

E1C-E5C

40,103

5%

47,969

71%

Friday Weekly

EW1-EW4

224,536

-21%

996,597

72%

End-of-Month

EW

68,979

-15%

554,661

74%

S&P 500 options

 

28,506

-28%

160,719

69%

Quarterlies

SP

1,141

-62%

36,632

45%

Monday Weekly

S1A-S5A

3,066

15%

1

100%

Wednesday Weekly

S1C-S5C

2,320

-8%

900

0%

Friday Weekly

EV1-EV4

16,867

-37%

98,178

74%

End-of-Month

EV

5,112

16%

25,008

88%

E-mini NASDAQ-100 options

 

8,040

-29%

62,172

54%

Quarterlies

NQ

2,070

-34%

33,314

52%

Weekly

QN1-QN4

5,179

-32%

23,903

58%

End-of-Month

QNE

792

19%

4,955

54%

E-mini Russell 2000 options

RTO

2,283

81%

23,540

72%

E-mini Dow ($5) options

YM

96

-68%

2,912

45%

Energy Options

 

Symbol

Settlement

ADV

% YoY

% Globex

Month-End OI

OI % Puts

Crude Oil options

 

 

137,255

-22%

75%

3,945,333

49%

WTI Crude Oil

LO

Physical

114,504

-21%

86%

2,365,235

45%

WTI 1 Month CSO

WA

Physical

11,406

-1%

2%

647,481

64%

Brent Futures-Style

BZO

Financial

3,406

-60%

55%

168,780

25%

WTI Weeklies

LO1-5

Physical

2,394

-13%

99%

7,489

46%

WTI Average Price

AAO

Financial

1,643

151%

0%

367,013

58%

WTI-Brent Spread

BV

Financial

1,341

-20%

5%

115,935

41%

Brent European

BE

Financial

1,112

-68%

0%

52,725

63%

WTI 1 Month CSO

7A

Financial

910

-64%

0%

148,335

63%

Natural Gas options

 

 

81,944

26%

58%

1,921,580

46%

Natural Gas European

LN

Financial

69,811

24%

60%

1,687,686

45%

Natural Gas American

ON

Physical

5,894

-9%

99%

81,795

48%

Natural Gas 1 Month CSO

G4

Financial

3,730

334%

1%

68,850

69%

Natural Gas 3 Month CSO

G3

Financial

1,575

950%

0%

36,550

57%

Refined Product options

 

 

1,758

-3%

20%

87,214

26%

NY Harbor ULSD

OH

Physical

1,154

-14%

14%

53,265

26%

RBOB Gasoline

OB

Physical

527

25%

37%

17,260

33%

Agricultural Options

 

Symbol

ADV

% YoY

% Globex

Month-End OI

OI % Puts

Corn

OZC

128,042

7%

86%

1,614,732

41%

Soybean

OZS

48,377

-28%

88%

504,014

46%

SRW Wheat

OZW

27,433

-36%

85%

371,820

42%

Lean Hogs

HE

19,560

32%

94%

425,289

47%

Soybean Meal

OZM

7,412

-17%

83%

100,958

47%

Short-Dated New Crop

OCD, OSD

7,187

-10%

87%

109,815

43%

Live Cattle

LE

6,006

-39%

91%

193,731

48%

Weekly Corn

ZC1-5

5,953

357%

76%

25,844

39%

KC HRW Wheat

OKE

4,265

-2%

62%

68,331

32%

Soybean Oil

OZL

4,220

9%

84%

65,993

41%

Class III Milk

DC

1,846

7%

96%

61,466

52%

Feeder Cattle

GF

1,323

4%

95%

42,210

49%

Weekly Soybeans

ZS1-5

965

1%

94%

3,894

52%

Weekly Wheat

ZW1-5

479

304%

94%

5,417

29%

FX Options

 

Symbol

ADV

% YoY

% Globex

Month-End OI

OI % Puts

EUR/USD

EUU

25,363

1%

99%

275,877

50%

JPY/USD

JPU

7,511

-44%

99%

113,024

39%

GBP/USD

GPU

6,587

-39%

100%

119,255

50%

AUD/USD

ADU

3,240

-34%

99%

51,518

53%

CAD/USD

CAU

3,101

-47%

100%

52,181

54%

CHF/USD

CHU

118

-30%

100%

4,684

47%

MXN/USD

6M

54

-51%

100%

1,811

49%

Metals Options

 

Symbol

ADV

% YoY

% Globex

Month-End OI

OI % Puts

Gold

OG

70,297

59%

74%

1,560,943

30%

Silver

SO

11,353

66%

87%

211,302

34%

Gold Weeklies

OG1-5

8,249

249%

92%

36,815

39%

Copper

HX

2,252

35%

91%

38,839

36%

Silver Weeklies

SO1-5

259

55%

85%

2,403

38%

Platinum

PO

52

-84%

80%

8,041

36%

Palladium

PAO

21

-78%

59%

1,899

65%

Open Interest as of 7/31/19, unless otherwise specified

YoY – Compares current period 2019 to same period 2018, MoM – Compares current month 2019 to previous month 2019

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