Trading in Tuesday and Thursday Crude Oil Options Surpasses 100,000 Contracts as Demand Soars

Rhea-AI Summary

CME Group announced that combined trading in its Tuesday and Thursday Crude Oil Weekly options has surpassed 100,000 total contracts traded since launching on July 22, 2024. This week, more than 50,000 Crude Oil Weekly options traded on a single day for the first time ever as demand for short-term options soars. Crude Oil Weekly options are the fastest growing energy products at CME Group, achieving new milestones:

• October 1, 2024: Single day open interest record of 72,053 contracts
• September: Highest volume month with ADV of 27,162 contracts, 15% higher than August
• September: Highest month for average daily open interest, reaching 54,700 contracts
• Three of the top 10 volume days occurred in September

Positive

• Trading in Tuesday and Thursday Crude Oil Weekly options surpassed 100,000 total contracts since launch
• Over 50,000 Crude Oil Weekly options traded on a single day for the first time
• Crude Oil Weekly options are the fastest growing energy products at CME Group
• New single day open interest record of 72,053 contracts set on October 1, 2024
• September saw highest volume month with ADV of 27,162 contracts, 15% higher than previous record
• September also had highest average daily open interest, reaching 54,700 contracts

Negative

• None.

News Market Reaction

-0.76%

1 alert

-0.76% News Effect

On the day this news was published, CME declined 0.76%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

CHICAGO, Oct. 2, 2024 /PRNewswire/ -- CME Group, the world's leading derivatives marketplace, today announced that combined trading in its Tuesday and Thursday Crude Oil Weekly options has surpassed 100,000 total contracts traded since launching on July 22, 2024. This week, more than 50,000 Crude Oil Weekly options also traded on a single day for the first time ever as demand for short-term options soars.

"Clients are increasingly focused on short-term risk in crude oil markets, and CME Group is the only liquid marketplace where market participants can express a view or hedge their exposure to WTI prices across the entire trading week," said Peter Keavey, Global Head of Energy and Environmental Products at CME Group. "We look forward to continuing to provide the flexibility our clients need to manage market events quickly and effectively."

Crude Oil Weekly options are the fastest growing energy products at CME Group and continue to achieve new milestones across the suite of daily expiries:

• October 1, 2024 was a single day open interest record of 72,053 contracts.
• September was the highest volume month in history, with average daily volume (ADV) of 27,162 contracts, 15% higher than the previous record in August.
• September was also the highest month on record for average daily open interest, reaching 54,700 contracts.
• Three of the top 10 volume days all occurred in September.

Crude Oil Weekly options are listed by and subject to the rules of NYMEX. For more information, please visit here. 

As the world's leading derivatives marketplace, CME Group (www.cmegroup.com) enables clients to trade futures, options, cash and OTC markets, optimize portfolios, and analyze data – empowering market participants worldwide to efficiently manage risk and capture opportunities. CME Group exchanges offer the widest range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange, energy, agricultural products and metals.  The company offers futures and options on futures trading through the CME Globex platform, fixed income trading via BrokerTec and foreign exchange trading on the EBS platform.  In addition, it operates one of the world's leading central counterparty clearing providers, CME Clearing. 

CME Group, the Globe logo, CME, Chicago Mercantile Exchange, Globex, and E-mini are trademarks of Chicago Mercantile Exchange Inc.  CBOT and Chicago Board of Trade are trademarks of Board of Trade of the City of Chicago, Inc.  NYMEX, New York Mercantile Exchange and ClearPort are trademarks of New York Mercantile Exchange, Inc.  COMEX is a trademark of Commodity Exchange, Inc. BrokerTec is a trademark of BrokerTec Americas LLC and EBS is a trademark of EBS Group LTD. The S&P 500 Index is a product of S&P Dow Jones Indices LLC ("S&P DJI"). "S&P®", "S&P 500®", "SPY®", "SPX®", US 500 and The 500 are trademarks of Standard & Poor's Financial Services LLC; Dow Jones®, DJIA® and Dow Jones Industrial Average are service and/or trademarks of Dow Jones Trademark Holdings LLC. These trademarks have been licensed for use by Chicago Mercantile Exchange Inc. Futures contracts based on the S&P 500 Index are not sponsored, endorsed, marketed, or promoted by S&P DJI, and S&P DJI makes no representation regarding the advisability of investing in such products. All other trademarks are the property of their respective owners. 

CME-G

 

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SOURCE CME Group

FAQ

How many contracts have been traded in CME's Tuesday and Thursday Crude Oil Weekly options since launch?

CME Group announced that combined trading in its Tuesday and Thursday Crude Oil Weekly options has surpassed 100,000 total contracts traded since launching on July 22, 2024.

What record did CME's Crude Oil Weekly options achieve in a single day?

More than 50,000 Crude Oil Weekly options traded on a single day for the first time ever, as announced by CME Group.

What was the single day open interest record for CME's Crude Oil Weekly options on October 1, 2024?

On October 1, 2024, CME's Crude Oil Weekly options set a single day open interest record of 72,053 contracts.

What was the average daily volume (ADV) for CME's Crude Oil Weekly options in September 2024?

In September 2024, CME's Crude Oil Weekly options reached an average daily volume (ADV) of 27,162 contracts, which was 15% higher than the previous record in August.

What was the average daily open interest for CME's Crude Oil Weekly options in September 2024?

In September 2024, CME's Crude Oil Weekly options reached a record average daily open interest of 54,700 contracts.