CME Group to expand its suite of short-term metals options
International derivatives marketplace CME Group today announced that it will expand its suite of short-term metals options to include Tuesday and Thursday expiries 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 expiries 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 CPI, Fed meetings and unemployment reports,” said Jin Hennig, Managing Director and Global Head of Metals at CME Group. “With an expiration now available on every day of the trading week, clients have maximum flexibility to fine tune their portfolios with precision and manage macroeconomic risk as it unfolds.”
In May 2023, CME Group launched Monday and Wednesday expiries on Weekly Gold, Silver and Copper Weekly options.
Recent volume highlights demonstrate the growth of those contracts:
- Single day volume record of 49,000 Gold Weekly options traded on December 4.
- Copper Weekly options average daily volume (ADV) is up 270% year-to-date.
- Silver Weekly options ADV increased 77% year-to-date.
- 25% of Silver, Copper and Gold Weekly options volume now occurs during non-U.S. trading hours.
Gold, Silver and Copper Weekly options are listed by and subject to the rules of COMEX.