International derivatives market CME Group announced today that it will expand its lineup of short-term metal options to include Tuesday and Thursday expirations for Gold, Silver and Copper, pending regulatory review.
With the addition of these new Weekly Contracts, scheduled to begin trading on January 22, 2024, option expirations will now be available every day of the business week, Monday through Friday.
“Increasingly, our clients are turning to our suite of weekly options to hedge their immediate exposure around the release of key economic indicators, including Fed meetings and unemployment reports,” said Jin Hennig, CEO and CME Group Global Head of Metals. . “With an expiration now available every day of the trading week, clients have maximum flexibility to fine-tune their portfolios and manage macro risk as it unfolds.”
In May 2023, the CME Group launched Monday and Wednesday Expires Gold, Silver and Copper Weekly options.
Recent volume figures demonstrate the growth of these contracts:
- One-day volume record 49,000 Gold Weekly traded on December 4th.
- Copper Weekly options average daily volume (ADV) is up 270% year-to-date.
- Silver Weekly options ADV is up 77% year to date.
- 25% of Silver, Copper and Gold Weekly options volume now appears during non-US trading hours.
Gold, Silver and Copper Weekly options are quoted and subject to COMEX rules.