TWIFO 163: Crazy Week for Crude, Gold and Iron Ore episode artwork

EPISODE · Aug 9, 2019 · 52 MIN

TWIFO 163: Crazy Week for Crude, Gold and Iron Ore

from This Week in Futures Options · host The Options Insider Radio Network

HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CRUDE OIL Down 10% on the week coming into Thursday.  That followed a session in which the futures closed at $51.09 a barrel, the lowest level since Jan. 14. Futures fell as much as 5.8% Wednesday to seven-month lows after American crude stockpiles posted a surprise increase. The loss sent the resource tumbling into bear market territory. Having extra supply dilutes prices, while fears of a global recession added to worries that demand may slow.   EIA Lowers World Oil Demand Forecast Again Oil Regains Ground as Saudis Discuss Crude-Market Intervention METALS - GOLD Good week - Up 5.21% coming into Thursday. Gold's ride hinges on rates. For gold prices to head for $1,600 or higher, it will take a few more rate cuts from the Fed. Global tensions still matter for gold, but with the trade war in play, global tensions are now correlated with economic expectations and, thus, rates. METALS - SILVER Silver is having another rock'em sock'em week. Silver prices book largest daily rise in 3 years on Wednesday.  EQUITIES VIX  17.65 - UNCHANGED FROM LAST SHOW  VVIX: 100 - DOWN 6 FROM LAST SHOW RVX: 20.6 - UP 1 POINT FROM LAST WEEK  VIX/RVX SPREAD - 3 - WIDER BY 1 POINT FROM LAST WEEK  Earnings season driving more volume in micro e-mini futures. Micro E-mini Equity futures traded 5 consecutive days over 1M contracts, reaching a record high of 1.4M contracts on August 8. Liquidity continues to build as market participants turn to Micro E-Mini futures for greater precision and flexibility in managing risk. Notable options trading in Russell indexes. FUTURES OPTIONS FEEDBACK  QUESTION FROM STI6RY: Big move in iron ore this week off the trade war. Much options action out there? QUESTION FROM JACK: What about a weekly skew report on twifo? Biggest changers from week to week? QUESTION FROM NMEDIA: Much on with beans this week QUESTION FROM LILBIGGS: What's your most memorable thing you've learned from doing this show? QUESTION FROM ELLES: Any more firmness to the wti skew this week?

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TWIFO 163: Crazy Week for Crude, Gold and Iron Ore

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HOST: MARK LONGO, THE OPTIONS INSIDER MEDIA GROUP CRUDE OIL Down 10% on the week coming into Thursday.  That followed a session in which the futures closed at $51.09 a barrel, the lowest level since Jan. 14. Futures fell as much as 5.8% Wednesday...

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