International derivatives market The CME Group announced today that open interest in Copper options exceeded 200,000 contracts for the first time after setting several consecutive daily record open rates.
“In today’s uncertain environment, market participants are turning to the strong liquidity on the screen 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 industrial metals price risk around the world.”
Five of the top five Copper option (HX) open interest entries have been noted in 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 day 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 COMEX rules.