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.
