Tuesday and Thursday Weekly WTI Crude Oil Options to Launch
July 22, 2024
CHICAGO, May 7, 2024
/PRNewswire/ -- CME Group, the world's leading derivatives
marketplace, today announced that it will expand its suite of
short-term WTI Crude Oil options to include Tuesday and Thursday
expiries, pending regulatory review. With the addition of these new
contracts, which will begin trading on July
22, 2024, Weekly WTI Crude Oil option expiries will now be
available every day of the business week, Monday through
Friday.
"In an increasingly volatile and uncertain environment, we are
seeing record demand for our Weekly WTI Crude Oil options,
which provide the most efficient source of liquidity to manage
short-term crude oil price exposure," said Peter Keavey, Global Head of Energy at CME
Group. "With the addition of Tuesday and Thursday expiries, clients
have additional flexibility to adjust their portfolios and execute
timely hedging strategies across the entire trading week. The
number of market participants trading a Weekly WTI product is up
25% year-over-year, and that is set to grow as the need to manage
price risk has never been more essential."
With the introduction of Tuesday and Thursday WTI Crude Oil
options, CME Group now has options expiring on each business day of
the week – both demanders and providers of liquidity can use these
options to better manage exposure and more directly hedge or
provide liquidity around specific near-term market events, such as
an OPEC decision or a Fed meeting," said John Calvaruso, Senior Director of Commodity
Trading and Risk Analytics at LS Power.
Weekly WTI Crude Oil options are the fastest growing energy
products at CME Group, reaching record ADV of over 23,000 contracts
in April and record average daily open interest of over 44,000
contracts. CME Group launched Monday and Wednesday expiries in
July 2023, which recently surpassed
ADV of 10,000 contracts.
Weekly WTI Crude Oil 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.
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SOURCE CME Group