Manage Trade War Outcomes in Global Markets

The trade war has disrupted markets, from equities to commodities and more. Discover insights into market volatility and stay ahead of trade war curve with CME Group’s economic research, analytical tools and educational courses—all in one place.

Tracking Market Expectations

Monitor how the trade war influences market expectations, focusing on options volatility to make informed decisions about event risk. As effects of the trade war shift the markets, watch forecasts for future movements, review historical markets or use CME Group’s tools to do more analysis.

Soybean Options

As the China/US Trade War continue, the Soybeans open interest heatmap allows us to view where positions are concentrated. As of April 3rd, the July 800 strike put option has 19,401 contracts whereas the December 800 strike put option OI totals 13,068

Chart data compiled using the Open Interest Head Map tool. To build your heat map or do your own analysis take a look at the Open Interest Heatmap.    

Get Started.

Crude Oil Options

Due to the ongoing trade war, the volatility in the crude oil market continues to change. See how the market prices this economic event by looking at the options on futures forward volatility.

Get Started.

Impacts to Major Markets


U.S. soybean prices are at a greater risk than corn due to the larger global market share of soybean exports from the U.S. compared to production.

To manage risk, consider the deep liquidity of CME Group Agricultural futures and options markets. Specifically, Soybean weekly options have seen a strong volume increase.

Read the latest.

Equity Indices

Global growth fears and uncertainty around corporate earnings have created turmoil in the equity markets.

CME Group offers a few ways to manage the uncertainty, with spread opportunities in small-cap versus large-cap indices or Select Sector futures to hedge your portfolio.

Read the latest.


Signs of slower growth in China have impacted global energy demand. Despite lower demand, oil prices have risen as OPEC and its partner producers have curbed their output.

The stronger U.S. dollar is also making crude oil more expensive for consumer countries. These rising prices risk further dampening emerging market demand.

Read the latest.


Economic growth in China is major demand factor in industrial metals markets, such as steel, copper and aluminum.

U.S. tariffs imposed in 2018 on steel and aluminum imports have affected prices and trade flows.

Further actions, or reactions, in trade policy will likely continue to impact both local and global metals markets. Protect against this risk with CME Group futures and options on major industrial metals.

Read the latest.

Manage Event Risk with Short-Term Options

Take a look at the short term options products impacted by the trade war.

As you prepare to handle event risk around the U.S./China trade war decision, short-term options offer a strong risk management strategy for high-impact events.

View Weekly Options Vendor Codes

Clearing Globex ClearPort Product Name Exchange Product Group Cleared As Volume Open Interest
EW1 EW1 EW1 E-mini S&P 500 Weekly Options - Week 1 CME Equities Options 4,486 38,149
LO1 LO1 LO1 Crude Oil Weekly Options - Week 1 NYMEX Energy Options 214 2,555
QN1 QN1 QN1 E-mini Nasdaq-100 Weekly Options - Week 1 CME Equities Options 127 909
R1E R1E R1E E-miniRussell 2000 Weekly Options - Week 1 CME Equities Options 15 174
US1 ZB1 US1 U.S. Treasury Bond Weekly Options - Week 1 CBOT Interest Rate Options 0 0
PY1 ZC1 PY1 Corn Weekly Options - Week 1 CBOT Agriculture Options 0 0
WZ1 ZW1 WZ1 Chicago SRW Wheat Weekly Options - Week 1 CBOT Agriculture Options 0 0
H1E H1E H1E Copper Weekly Options - Week 1 COMEX Metals Options 0 0
TY1 ZN1 TY1 10-Year T-Note Weekly Options - Week 1 CBOT Interest Rate Options 0 0
CZ1 ZS1 CZ1 Soybean Weekly Options - Week 1 CBOT Agriculture Options 0 0
Trade Date: 11 Nov 2019 | PRELIMINARY

Dive Deeper into Trading Around Event Risk

Whether you are getting to know the futures and options markets, or are an experienced trader looking for new ideas, CME Institute provides in-depth information on a variety of trading topics. Get started with a few courses that will help prepare you for event-driven changes in the market:

Key Economic Events - Learn how economic events can move markets and what to watch to make the most of your trading strategy.

Strangles - Get an overview of strangles as a trading strategy for options, including benefits of the strategy and more.

Straddles - Look at straddles as a strategy for trading options in volatile or stagnate markets.

Strategy Simulator - Take your learning to the next level and see how custom-built strategies perform in different price scenarios.

Subscribe to Updates about the Trade War

Fill out the form to be added to our email list for research and articles about the trade war. When we have a new market analysis, you get an email.