The rally in U.S. crude futures toward $60 a barrel triggered a frenzy of activity in a lesser-known corner of the market. Trading of West Texas Intermediate call options — used to place bullish bets — surged to a record on the Intercontinental Exchange on Friday, while the CME Group’s more actively traded benchmark contract also jumped. Much of the volume was in trades that could profit from, or hedge against, an oil rally toward $100.
West Texas Intermediate Crude?
Volatility surface?
The Arctic Blast? Winter storm alerts (blue) strech from Texas to Vermont. Then we have this break news from NWS Las Vegas@NWSVegas145PM: