Here is the implied vol chart… I use the second nearby at the money option which as of today will roll from June into July… Yesterday, June WTI options settled at 23.6, while July settled at 27.2… This is unusual but can be explained by the fact that OPEC meets on May 20th… June options expire on May 17th… Long term average (since November 1986) implied vol is 33.2, the all time high was 135.4 on 1/14/91, the all time low was 12.7 on 6/6/14… Expectations of a less contentious OPEC meeting in May with prices around $50 will likely keep implieds from spiking…
Large open interest strikes continue to be $60 calls with 56,682 contracts open on the June $60 and 50,616 on the Dec $60.. The June 50 put has 46,683 contracts open…
Spread options continue to show flat strikes with the most open interest in calls… Roughly 25 to 35,000 contracts are open on these through 2017… Put strikes seem to be rolled up from -50 to -25 for 2017… Roughly 20 to 25,000 contracts are open on each of these strikes for the balance of 2017… Open interest numbers include the cash settled cso (7A)…