Key Takeaways with Craig

US Equity prices came out of the gate strong to begin the week but gave up some of the gains to close mixed on the day.  The Dow Jones Industrials and Russell 2000 managed small gains, the Nasdaq was down by about .5% and the S&P 500 was near steady.  Implied volatility in CME’s Equity Index options was also little changed and continues to trade near 4 month lows. 

In other CME markets

  • WTI Crude Oil futures prices were up slightly after falling below $90 per barrel last week.  Implied volatility in those options is also trading near 3-month lows
  • Natural Gas continues its highly volatile trend – down by over 5% today though both price and volatility remain elevated relative to historical norms.
  • US Treasury yields fell slightly.  The Micro 2-Year is now yielding about 46 basis points more than the Micro 10-Year Treasury yield future.
  • Continuing a move that began over the weekend in the cash cryptocurrency markets, Bitcoin futures prices were up by about 4.4% from Friday’s close today. While Bitcoin futures prices are not recovering in a straight line, the orange line in the QuikStrike graph below does illustrate the upward trend from the lows below 19,000.  Implied volatility in the CME’s Bitcoin options remains below the 3-month average, as you can see from the blue line.

Looking ahead, the markets will get the latest read on US inflation this week with the CPI scheduled to be released on Wednesday and the PPI on Thursday.  

Today's Future Price Action

Traders Resources

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