Oil Options More Bullish Than After Russia's Invasion of Ukraine
Oil options are now more bullish than after Russia's invasion of Ukraine in 2022, showing a global market that's on edge as Israel and Iran trade blows, and speculation mounts that the US may join the attack.
The premium of bullish Brent calls — which profit when prices rise — was at the widest relative to the opposite puts in data going back to 2013, as of Tuesday's close. A measure of implied volatility has also surged, as higher-than-usual volumes of options contracts changed hands in recent days.
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