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December 14, 2022

CME Group's Micro WTI Options Volume Surpasses 100,000 Contracts Traded

Micro WTI Options launched in June 2022 following the successful launch of Micro WTI futures and have become some of the fastest growing products at CME Group


December 14, 2022 - CME Group, the world's leading derivatives marketplace, today announced that Micro WTI options volume surpassed 100,000 contracts on December 13, 2022.

"Traders are facing unprecedented volatility as markets react to recession risk, OPEC and U.S production shifts, changing demand from China, geopolitical events and other factors," said Peter Keavey, Global Head of Energy and Environmental Products at CME Group. "As a result, we are seeing an increase in demand for the flexibility and capital efficiency of our Micro WTI options to navigate uncertainty and express a view on how these variables could evolve. We are pleased that our Micro WTI futures and options continue to grow as market participants increasingly seek access to our global benchmark." 

Micro WTI Options launched in June 2022 following the successful launch of Micro WTI futures and have become some of the fastest growing products at CME Group. Key highlights include:

Micro WTI options:

  • November was a record month for average daily volume (ADV) and average daily open interest (ADOI), with ADV of 1,200 contracts and ADOI of 6,000 contracts.
  • Over 2,500 unique users from 28 firms have traded Micro WTI options since launch.
  • Approximately 20% of volume has originated outside the U.S., with 30% trading during non-U.S. hours. Volume has originated from 70 different countries and territories.

Micro WTI futures:

  • Over 37 million contracts have traded since launching in 2021.
  • 2022 ADV year-to-date is up 292% at over 122,000 contracts. Open interest has surpassed 40,000 contracts.
  • Over 86,000 unique market participants from 215 firms have traded this product. More than 42,000 of those traders had never previously traded a crude oil contract at CME Group.
  • In 2022, 37% of volume has traded during non-U.S. hours. 46% of Micro WTI futures total volume has originated outside of North America, with volume from Asia Pacific accounting for 26% of total volume and Europe and the Middle East accounting for 19%. Volume has originated from over 155 unique countries and territories.

Options on Micro WTI Crude Oil futures are listed by and subject to the rules of NYMEX. For more information, please visit here.

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