ACE Crude Oil - Mar 29, 2021

Below is an illustration trading futures options on Crude Oil.  Our post shows bullish and bearish positions using a combination of call and put options.


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Trade Options on Futures

Crude Oil * Directional & Neutral Positions

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Crude Oil

 

Term Structure

cl term


Volatility

cl optv

cl vol


Notes:

Contract Size - 1,000 barrels.

Tick Size:  Outright: dollars and cents with 0.01 points=$10

Trading Hours: CME Globex: Sunday - Friday 6:00 p.m. - 5:00 p.m. Eastern Time (CST).

* Tip: Click here to read a helpful tip about Crude Oil futures and options


Charts

cl weekly

cl daily

cl prices


Latest, Biggest, Busiest

Below is a snapshot with what's going on in the world of options with the most actively traded spreads.

Enlarge by right clicking mouse over each image and select 'open in a new tab'

cl shift

Below is a Jun21 CL 72.5/77.5 Bull Call Spread shown in the middle column above.  I've listed alternatives below.

72.5 77.5.bull.call

72.5 77.5.bull.call target

* Tip: Click here on enlarging images


Option Strategies

Below are alternate strategies to above.

The % yield shown in the diagrams below represent an estimated return on margin from projected dates shown below. The structure has positive time decay which is an advantage over holding outright options.

Calendar Call

The position illustrated below is a calendar call spread.  Position has positive time decay (Theta) and benefits from increases in implied volatility.

cl calendar call

cl calendar call target


Calendar Put

Below is a variation if the market were to move directionally higher. Position has positive time decay and minimal impact from changes in implied volatility.

cl calendar put

cl calendar put target


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