Options traders bet on return of $100 oil – WSJ
|The Wall Street Journal (WSJ) came out with the news suggesting a bullish view of oil traders, per options market.
The news reads, “Investors have scooped up call options tied to crude prices hitting milestone for the first time since gush of US oil in 2014.” WSJ adds, “The popularity of $100 options is another example of traders converging on seemingly outlandish wagers they consider to be almost guaranteed ways of making money.”
While signaling the timeline, the WSJ piece mentions December 2022 contracts with a strike of $100 as the widely owned WTI call option, more than 60,000 outstanding, on the New York Mercantile Exchange.
Market implications…
WTI edges higher around October 2018 tops, near $69.15 at the latest, following the news release.
Read: WTI bears take control at the start of the week, bucking the trend
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