Key Takeaways with Craig

In what was a bit of a quieter day in CME’s Financial and Commodity markets, US Equity prices fluctuated around the unchanged mark and,  ultimately, wound up broadly  higher.  Interest rates markets were relatively quiet with US Treasury yields little changed. 

In a bit of a reversal from yesterday, energy futures prices were generally higher with WTI Crude Oil up by a little less than 2% and Natural Gas futures up by about 1%. 

CME Metals futures markets, which we haven’t covered as much lately here in the Key Takeaways section, were a bit more active.  Even though Gold futures prices were little changed, we did see the following price moves in some of the other metals products:

  • Platinum: up nearly 3%
  • Copper: +3.2%
  • Aluminum: up nearly 2%
  • Palladium: up nearly 6%

We thought this was a good opportunity to check in on the price and volatility of Copper futures as it is sometimes viewed as an indicator of economic health because of its use across many different sectors.  As you can see in the orange line in the QuikStrike graph below, even with the uptick, the price of Copper remains depressed relative to the last 12 months.  While volatility, depicted by the blue line, is trading near the 12 month average, the skew (not pictured) remains toward the Puts as the 25 Delta Puts are trading about 2% over the Calls.  

Today's Future Price Action

Traders Resources

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