Key Takeaways with Craig

It was another relatively quiet day in CME Group financial markets with US Equities and Treasury Yields both rising slightly.  The Nasdaq was an exception to the “slightly” qualifier, as it was up by nearly 2% on the day.  Perhaps there is a bit of “calm before the storm” this week as next week brings us the FOMC decision on Wednesday and the January Employment report on Friday.  The CME Group Event Volatility Calculator, that uses the volatility curve in the options market to estimate the potential impact to the futures price of economic releases and events, suggests that the options market is assigning the potential of a 250 point move in the E-mini Nasdaq-100 to those events.  The QuikStrike graph below of the E-mini Nasdaq-100 volatility curve does a nice job of illustrating this. 

In other CME Group markets, WTI Crude Oil futures prices were up by about 1% while Natural Gas prices were down another 3% while volatility in the options ticked down in both.  CME grains futures markets were active as well with Corn, Wheat and Soybeans prices up by 1%, 1.4% and 1.4%, respectively.  Implied volatility in the grains markets rose with the move and the aggregate Ags CVOL index was up from about 19.6 to about 20.5.  

Today's Future Price Action

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