Richard Cheese Posted October 15, 2009 Share Posted October 15, 2009 http://www.bloomberg.com/apps/news?pid=206...id=auKRxcNPTay0 Bets on Oil Above $100 in December Jump 10% in Options TradingShare | Email | Print | A A A By Margot Habiby Oct. 15 (Bloomberg) -- Bets that oil prices will top $100 a barrel in December jumped 10 percent yesterday to a record on the New York Mercantile Exchange, as the underlying futures rose to the highest level this year. The number of contracts outstanding on December $100 call options rose to 77,494 yesterday, according to Nymex data released today. That was up from 70,442 the day before, the previous high. The contract has more open interest than any other oil option on the exchange. November options expire at the close of floor trading today. The December calls rose 1 cent to 13 cents a barrel, or $130 a contract, yesterday on record volume of 12,595 lots, 45 percent more than the next most-active contract. They gained 8 cents today to settle at 21 cents a barrel at 4:26 p.m., based on Nymex electronic data and preliminary volume of 698 lots. The exchange distributes real-time data on electronic trading of crude oil options. Most information on floor trading, where the bulk of options trading occurs, is released the next business day. The delayed data include overall volumes and open interest. The exchange releases a settlement price at the end of each business day. Oil for December delivery rose $2.48, or 3.3 percent, to settle at $78.08 a barrel at 2:44 p.m. on the Nymex. Yesterday, it added 89 cents, or 1.2 percent, to $75.60. December futures have risen 12 percent in six days. Oil for November delivery, the most active futures contract, added $2.40, or 3.2 percent, to $77.58 a barrel. Earlier, the futures touched $77.97, the highest level in a year, after an Energy Department report showed an unexpected decline in U.S. gasoline stockpiles. In the Money Bets that oil prices will rise above $77 a barrel in November were the most active crude options today, rising 37 cents to 58 cents a barrel, or $580 a contract, on volume of 1,595 lots. Since November futures settled above $77, the contract expired “in the money” at the end of the trading day, meaning its holders would make a profit. Other active options contracts today were December $80 calls, up 71 cents to $3.18 a barrel; December $70 puts, down 78 cents to $1.25 a barrel; and December $85 calls, up 42 cents to $1.63 a barrel. Yesterday’s most active options included December $90 calls, March $60 puts, March $90 calls and December $80 calls. To contact the reporter on this story: Margot Habiby in Dallas at mhabiby@bloomberg.net. and all that crap a couple summers ago about how we will "drill here, drill now" and how it wont happen again EFFERS :beer_bang: Quote Link to comment Share on other sites More sharing options...
Jakster884 Posted October 15, 2009 Share Posted October 15, 2009 I am sure once they have seen the DOW above 10K they figure the economy is going strong enough to rape the Americans :beer_bang: again with there $150 a barrel oil. You know what we are going to have to pay for if its $50, $75 or $150 a barrel. FK :B Quote Link to comment Share on other sites More sharing options...
jr1208 Posted October 16, 2009 Share Posted October 16, 2009 http://www.bloomberg.com/apps/news?pid=206...id=auKRxcNPTay0 and all that crap a couple summers ago about how we will "drill here, drill now" and how it wont happen again EFFERS :beer_bang: i agree with you,we all know is all politics..them mother f Quote Link to comment Share on other sites More sharing options...
Dune Dad Posted October 16, 2009 Share Posted October 16, 2009 I am sure once they have seen the DOW above 10K they figure the economy is going strong enough to rape the Americans again with there $150 a barrel oil. You know what we are going to have to pay for if its $50, $75 or $150 a barrel. FK :B Looks like Im keeping the Toyota Tacoma 4banger.... When the Fuel price goes up again we will be parking the gas guzzlers.. Quote Link to comment Share on other sites More sharing options...
badams270 Posted October 16, 2009 Share Posted October 16, 2009 And here we sit. We are spending $10 billion a month in Iraq for a pointless war, control the area that has the second largest pool of oil on the planet, and we are going to have to pay $5 a gallon again. Didn't our fearless leader say he was going to try and stop some of this sepculation? He's to busy trying to the the F'ing olympics to chicago to worry about it. He has a lot on his plate and the olympics should be the least of his worries. Quote Link to comment Share on other sites More sharing options...
EY3BA11 Posted October 16, 2009 Share Posted October 16, 2009 sweet.. that means when im ready to buy a truck early next year they will be nice and cheap again cuz people wont want them gass guzzlers Quote Link to comment Share on other sites More sharing options...
Richard Cheese Posted October 19, 2009 Author Share Posted October 19, 2009 almost up to 80 today...check link in original post Quote Link to comment Share on other sites More sharing options...
Richard Cheese Posted October 21, 2009 Author Share Posted October 21, 2009 now over 80 dollars a barrel Quote Link to comment Share on other sites More sharing options...
EY3BA11 Posted October 21, 2009 Share Posted October 21, 2009 gas went down 10 cents a gallon here in vegas! Quote Link to comment Share on other sites More sharing options...
Richard Cheese Posted October 21, 2009 Author Share Posted October 21, 2009 gas went down 10 cents a gallon here in vegas! diesel shot up 10 cents a gallon this morning :trickortreat: Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.