Key Takeaways with Craig
US Equity Indexes struggled to find a clear direction early in the trading day but after a rally later in the day, wound up sharply higher. With the rally, the Nasdaq notched a slight gain on the week while the S&P 500 was down, but by less than 1%. After the back and forth week, here’s the net changes to the price and implied volatility in some of CME’s major products according to QuikStrike and CVOL data:
- Generally, we saw very small net price and vol changes in many of the products we looked at
- Even with just slight changes in price, volatility in the E-mini S&P 500 and Nasdaq-100 options increased
- WTI Crude futures prices were slightly higher while the CVOL level fell
- As we’ve written about recently, Natural Gas futures prices fell again, as did the CVOL level
- With the rally in cryptocurrencies in general, Bitcoin futures prices were up by 13% while vol fell in the options market
So, while it took a lot of back and forth to get there, many markets wound up where they began the week. Next week we’re looking toward more corporate earnings reports as well as the GDP report on Thursday and we’ll be here reporting on CME products all the while. Have a wonderful weekend and we’ll see you on Monday.
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