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WTI Options Liquidity During Non-U.S. Hours

Highlights:

  • Over 80% of WTI Options (LO) have traded electronically for almost 3 years straight
  • LO volume continues to be driven by spread trading—a record 59% of LO volume was executed via spreads in March 2020
  • A record 21% of WTI Options are being traded overnight YTD in 2020 with ETH ADV at 31k
  • LO ADV traded during London Morning Hours is at 21k YTD, with a record 14% of total ADV executed during this time frame each day

New Expiration Rules for Brent Options

Highlights:

Brent Crude Oil options (BZO) will be auto-exercised with no contrary instructions allowed beginning with the March 2020 contract expiration on NYMEX. The new options expirations rules allow a simpler and more transparent expiration process for traders hedging the volatile crude oil market.

For More Information:    

Clearing CME Globex Floor CME ClearPort Product Name Subgroup Exchange Volume Open Interest
LO LO - LO Crude Oil Option Crude Oil NYMEX 105,599 2,040,535
LN LNE - LN Natural Gas Option (European) Natural Gas NYMEX 75,191 2,442,854
WA WAY - WA WTI Crude Oil 1 Month Calendar Spread Option Crude Oil NYMEX 4,000 488,981
G4 G4X - G4 Natural Gas (Henry Hub) Last-day Financial 1 Month Spread Option Natural Gas NYMEX 3,600 112,900
AO AAO - AO WTI Average Price Option Crude Oil NYMEX 3,073 362,003
BZO BZO - BZO Brent Crude Oil Futures-Style Margin Option Crude Oil NYMEX 2,522 78,474
TFO TFO - TFO Dutch TTF Natural Gas Futures-Style Margined Calendar Month Option Natural Gas NYMEX 2,300 111,400
ON ON - ON Natural Gas Option (American) Natural Gas NYMEX 1,710 80,563
G3 G3B - G3 Natural Gas (Henry Hub) Last-day Financial 3 Month Spread Option Natural Gas NYMEX 1,400 128,685
LO2 LO2 - LO2 Crude Oil Weekly Options - Week 2 Crude Oil NYMEX 593 893
Trade Date: 02 Jul 2020 | FINAL

Note: Volume and Open Interest data is from the previous trade date. Preliminary data updates at approximately 9:00 p.m. CT and the final update is at 10:00 a.m. CT next business day.

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