Copper Option Open Interest Surpasses 200,000 for the First Time Ever
Liquidity Finder - Sam LowMarch 25, 2024 - CME Group announced today that open interest in Copper options has reached an all-time high, surpassing 200,000 contracts after achieving several consecutive daily open interest records.
Jin Hennig, Global Head of Metals at CME Group, stated, "In today's uncertain environment, market participants are turning to the robust on-screen liquidity of our options markets to express their views on copper, a key bellwether of the global economy. This open interest milestone reflects strong global demand for these products as clients work to effectively manage their industrial metals price risk around the world."
The last five trading days have seen the top five open interest Copper option (HX) records, which include:
- Monday, March 18, 2024: 190,504 contracts
- Tuesday, March 19, 2024: 194,111 contracts
- Wednesday, March 20, 2024: 199,341 contracts
- Thursday, March 21, 2024: 203,675 contracts
- Friday, March 22, 2024: 209,994 contracts
Furthermore, on March 13, 2024, Copper options achieved a single daily volume record of 52,578 contracts traded, which is double the previous record of 25,010 contracts traded on May 10, 2021.
COMEX is responsible for listing and governing the rules of Copper options. For additional information, interested parties can visit www.cmegroup.com/copperoptions
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