First, here is a look at April crude along with implied vol from Barchart.com… Note that front month vol has blown up to 47%… May options settled over 40%…. Nothing unusual here…
From the CME we see that a heavy 362,704 options traded with outs trading more than calls… However, calls increased in open interest more than puts… I am cautious with an interpretation, but maybe more bottom picking is going on (hasn’t worked yet! but long option strategies equal staying power as risk is limited to the premium paid)…
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