International derivatives marketplace CME Group today announced that open interest in Copper options surpassed 200,000 contracts for the first time ever after achieving several consecutive daily open interest records.
“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,” said Jin Hennig, Global Head of Metals at CME Group. “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.”
Five of the top five open interest Copper option (HX) records have occurred over each of the last five trading days, including:
- Monday, March 18: 190,504 contracts
- Tuesday, March 19: 194,111 contracts
- Wednesday, March 20: 199,341 contracts
- Thursday, March 21: 203,675 contracts
- Friday, March 22: 209,994 contracts
On March 13, 2024 Copper options also achieved a single daily volume record of 52,578 contracts traded, doubling the previous record of 25,010 contracts traded on May 10, 2021.
Copper options are listed by and subject to the rules of COMEX.
