Crude volatility evaporates OTC liquidity in May
Huge moves in the oil price in May has affected liquidity in the over-the-counter crude options markets as commercial traders struggled to take definitive views, say analysts.
Nymex West Texas Intermediate for July delivery gained $9.32 between May 15 and May 21 and reached a record high of $135.09 during an overnight electronic trading session on the Chicago Mercantile Exchange’s Globex platform.
“Commercial traders are having a very difficult time in this market because it is not behaving at all in a way that experienced commercial traders have any familiarity with,”
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