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Aug 9, 2019
- HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP
- Down 10% on the week coming into Thursday.
- That followed a session in which the futures closed at $51.09 a barrel, the lowest level since Jan. 14.
- Futures fell as much as 5.8% Wednesday to seven-month lows after American crude stockpiles posted a surprise increase. The loss sent the resource tumbling into bear market territory. Having extra supply dilutes prices, while fears of a global recession added to worries that demand may slow.
- EIA Lowers World Oil Demand Forecast Again
- Oil Regains Ground as Saudis Discuss Crude-Market Intervention
METALS - GOLD
- Good week - Up 5.21% coming into Thursday.
- Gold's ride hinges on rates.
- For gold prices to head for $1,600 or higher, it will take a few more rate cuts from the Fed.
- Global tensions still matter for gold, but with the trade war in play, global tensions are now correlated with economic expectations and, thus, rates.
METALS - SILVER
- Silver is having another rock'em sock'em week. Silver prices book largest daily rise in 3 years on Wednesday.
- VIX 17.65 - UNCHANGED FROM LAST SHOW
- VVIX: 100 - DOWN 6 FROM LAST SHOW
- RVX: 20.6 - UP 1 POINT FROM LAST WEEK
- VIX/RVX SPREAD - 3 - WIDER BY 1 POINT FROM LAST WEEK
- Earnings season driving more volume in micro e-mini futures.
- Micro E-mini Equity futures traded 5 consecutive days over 1M contracts, reaching a record high of 1.4M contracts on August 8. Liquidity continues to build as market participants turn to Micro E-Mini futures for greater precision and flexibility in managing risk.
- Notable options trading in Russell indexes.
FUTURES OPTIONS FEEDBACK
- QUESTION FROM STI6RY: Big move in iron ore this week off the trade war. Much options action out there?
- QUESTION FROM JACK: What about a weekly skew report on twifo? Biggest changers from week to week?
- QUESTION FROM NMEDIA: Much on with beans this week
- QUESTION FROM LILBIGGS: What’s your most memorable thing you’ve learned from doing this show?
- QUESTION FROM ELLES: Any more firmness to the wti skew this week?
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