Key Takeaways with Craig
US Equity prices began the day higher but sold-off again to close broadly lower. Nasdaq led the losses again, down by about 2.5% as we approach the cash equity market close. Unsurprisingly, CME Equity Index option implied volatility continues to climb as the market continues to monitor the situation on the Russia-Ukraine border. As you can see from the blue line in the QuikStrike graph below, 30-day implied volatility in the E-mini S&P 500 options is trading at a one-year high level.
WTI Crude Oil futures prices were little changed today but remain near 7-year high levels. Implied volatility in the WTI Crude Oil options, with the exception of a spike toward the end of last year remain at levels we haven’t seen since 2020. In other CME Group markets, grains futures prices, which we wrote about yesterday, continued higher and Treasury Yields, according to the Micro Treasury Yield futures, rose by a few basis points.
So as we approach the end of February, seemingly with more questions that answers, we’ll be here reporting on CME Group products.
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