WTI Morning Curve, Pivots, Vol, Cal WTI Brent Sprds

 

WTI.   3/9/23

Costless collars
Apr23-Dec23  65.00 put /86.00 call   Swap ref 7563
Cal 2024          60.00 put /83.50 call                    71.52

*Apr-Dec23 Cal avg futures trading at a $4.11 premium to Cal 2024.

Price Curve
Apr  76.67
May 76.80  
June 76.83  *peak price
July  76.67

*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

April CLJ
78.45 resistance 2
77.55
76.83  Pivot
75.93
75.21  support 2

*Pivot numbers are based on yesterday's trading range of $1.62 plus high, low, close levels.


Volatility

April $76.50 straddle 3.10 theoretical value.

*Implies 36.08% volatility.      Days to exp: 7


April Cal Avg WTI/Brent spread   (BKJ)
--5.40/-5.33


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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