WTI Curve, Pivots, Vol and Ti/Brent
Life on the Hedge
Apr23-Dec23 65.00 put /84.00 call Swap ref 74.70
Cal 2024 60.00 put /82.00 call 70.85
*Apr-Dec23 Cal avg futures trading at a $3.85 premium to Cal 2024.
June 75.90 *peak price
*Price curve continues contango shaped in front-end.
Moving further back along the time curve, prices are trading at premiums. From July23 to further back backwardation characterizes the curve's shape.
Local Pivot Points
78.45 resistance 2
73.77 support 2
*Pivot numbers are based on yesterday's trading range of $2.63 plus high, low, close levels.
April $75.50 straddle 3.13 theoretical value.
*Implies 39.47% volatility. Days to exp: 6
April Cal Avg WTI/Brent spread (BKJ)
Long: Short Open Interest Ratio
*Based on Commitment of Traders Report. Next Monday
All these levels are a snapshot in time on the runway to the market's 9 am opening. These are not trade recommendations.
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