USOILWhat’s Happening with Oil?
🛢️ OPEC+ is maintaining production cuts, which limits supply. Additionally, tensions in the Middle East are causing fears of supply disruptions. Meanwhile, demand in the U.S. remains strong.
📊 In the chart, we can see how oil had a strong upward movement of 16% in just 12 days, then took a breather at its support, which is around its current price. It’s actually healthy for it to pull back a bit, which could set the stage for another rally.
🧐 Here’s a quick summary: In the options expiring in 30 days, we have something interesting!
📈 Calls vs. Puts
There’s more interest in calls 318,401 than in puts 228,939, suggesting that most traders expect prices to rise. The P/C ratio of 0.72 tells us the sentiment is positive.
But watch out! In the short term, more calls are also being traded, with a volume of 72,197 compared to 39,923 puts. This reinforces the idea that optimism is in the air.
🎯 Key Strikes
The 100 strike is full of calls, with 19,403 open contracts. Nobody expects any drops here! 🚀
At the lower strikes like 55, 60, and 65, puts dominate, suggesting that some traders are hedging in case the market drops.
👍 In summary, the market seems optimistic, but some are already taking precautions in case things get tricky. What do you think?
