OIL OPTIONS: WTI Mar25 Option Expiry – Fri 14 February 25

A total of 815mbbls of open WTI crude March 25 options positions on CME and ICE are currently due to expire against the March futures close tomorrow. Current aggregate open interest is 408k call contracts and 407k puts.

• The aggregate options open interest has risen in the last month with calls currently at 1.52m and aggregate put interest up to 1.59m.
• The most significant open exposures of interest are just below the current market with nearly 15k of calls and just over 25k of puts at the $70/bbl strike. Over 36k of puts sit at the $65/bbl strike while over 22k of calls are at $75/bbl.
• Below is a graph showing the current WTI front month options open interest (WTI $70.57/bbl):

Source: MNI / Bloomberg