Traders pile into $80 US oil bets as tensions rise in Middle East
Traders on Friday exchanged the most $80 West Texas Intermediate (WTI) crude oil call options since January, expecting more upside to prices after Israeli airstrikes on Iran sparked fears of a wider Middle East conflict.
Call options grant the holder a right to buy futures contract at the preset price and date, and a rise in volumes can help gauge market sentiment.
About 33,411 contracts of August-2025 $80 call options for WTI crude oil were traded on Friday on a total trading volume of 681,000 contracts, marking the highest volume for these options this year, according to CME Group data.
The last time trading was this high for $80 call contracts was on January 10, with 17,030 February-2025 $80 call options traded on a total trading volume of 301,866 contracts.
Oil prices jumped on Friday and settled 7 per cent higher as Israel and Iran launched air strikes, feeding investor worries that the combat could widely disrupt oil exports from the Middle East.
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CNA
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CNA
15 hours ago
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Traders pile into $80 US oil bets as tensions rise in Middle East
Traders on Friday exchanged the most $80 West Texas Intermediate (WTI) crude oil call options since January, expecting more upside to prices after Israeli airstrikes on Iran sparked fears of a wider Middle East conflict. Call options grant the holder a right to buy futures contract at the preset price and date, and a rise in volumes can help gauge market sentiment. About 33,411 contracts of August-2025 $80 call options for WTI crude oil were traded on Friday on a total trading volume of 681,000 contracts, marking the highest volume for these options this year, according to CME Group data. The last time trading was this high for $80 call contracts was on January 10, with 17,030 February-2025 $80 call options traded on a total trading volume of 301,866 contracts. Oil prices jumped on Friday and settled 7 per cent higher as Israel and Iran launched air strikes, feeding investor worries that the combat could widely disrupt oil exports from the Middle East.
