Key Takeaways with Craig

After another volatile day that remained choppy until the final bell, US Equities wound up mixed but little changed.  Implied volatility CME’s Equity Index options was also little changed. 

In other CME markets

  • WTI Crude Oil futures prices were little changed though Natural Gas prices remained volatile, up another 5%
  • Soybean and Corn futures prices were higher
  • Gold futures prices were lower by about 1%
  • US Treasury Yields were slightly higher and the curve steepened, though also just slightly
  • The US Dollar continued to show strength versus some other major currencies in CME’s futures markets

We zoomed out on the recent FX graphs that we posted in the Key Takeaways to take a longer term look at the price of the Euro FX versus the US Dollar.  As you can see from the orange line in the QuikStrike graph below, the US Dollar is trading at a 5 year high relative to the Euro.  Also, with the exception of the spike in implied volatility (“vol”) (blue line) that we saw during the first weeks of the COVID 19 pandemic-induced economic shutdowns and the more recent spike that occurred when Russia invaded Ukraine, vol is trading as high as it has in at least 5 years.  Additionally, while we haven’t graphed it, with the same two exceptions,  Puts are trading nearly as high relative to Calls as they have in those same five years. 

Today's Future Price Action

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