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

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Oct 02, 2024, 11:07 ET

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.

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SOURCE CME Group