Business & Finance
Brent’s Surge Runs Into Options Levels That Could Fuel Gains
Key Points
Brent’s Surge Runs Into Options Levels That Could Fuel Gains Brent crude oil’s 8% gain on Wednesday has futures moving through levels of large open interest that could potentially add fuel to the rally. September Brent is trading around $80 a barrel, where more than 50,000 lots of calls and puts are sitting — equivalent to 50 million barrels.
Brent’s Surge Runs Into Options Levels That Could Fuel Gains
Brent crude oil’s 8% gain on Wednesday has futures moving through levels of large open interest that could potentially add fuel to the rally.
September Brent is trading around $80 a barrel, where more than 50,000 lots of calls and puts are sitting — equivalent to 50 million barrels. There are also 75,000 lots at $85. And there’s almost as big a position at the $80 strike in October, which is trading about 75 cents cheaper.