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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
LN LNE - LN Natural Gas Option (European) Natural Gas NYMEX 245,789 4,664,334
LO LO - LO Crude Oil Option Crude Oil NYMEX 131,921 1,932,680
G3 G3B - G3 Natural Gas (Henry Hub) Last-day Financial 3 Month Spread Option Natural Gas NYMEX 16,550 346,275
LO5 LO5 - LO5 Crude Oil Friday Weekly Option - Week 5 Crude Oil NYMEX 11,146 17,690
G2 AG2 - G2 Natural Gas (Henry Hub) Last-day Financial 2 Month Spread Option Natural Gas NYMEX 10,000 27,700
ON ON - ON Natural Gas Option (American) Natural Gas NYMEX 8,734 127,726
LO4 LO4 - LO4 Crude Oil Friday Weekly Option - Week 4 Crude Oil NYMEX 8,220 0
ML4 ML4 - ML4 Crude Oil Monday Weekly Option - Week 4 Crude Oil NYMEX 7,547 10,560
G4 G4X - G4 Natural Gas (Henry Hub) Last-day Financial 1 Month Spread Option Natural Gas NYMEX 6,300 115,900
LO1 LO1 - LO1 Crude Oil Friday Weekly Option - Week 1 Crude Oil NYMEX 4,907 7,530
Trade Date: 24 May 2024 | PRELIMINARY

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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