CME Group to launch Monday and Wednesday Gold, Silver and Copper Weekly Options
International derivatives marketplace CME Group today announced that it will launch Monday and Wednesday Gold, Silver and Copper Weekly options on May 2, pending regulatory review. These new options contracts will complement the company’s existing Friday Weekly, End-of-Month and Quarterly options on Gold, Silver and Copper futures.
“Fed policy and economic uncertainty are key focuses for our clients across the globe, which also have implications for metals markets,” said Jin Chang, Managing Director and Global Head of Metals at CME Group.
“We continue to see strong demand for our short-term options, which provide clients with more flexibility to manage short-term price risk. The introduction of Monday and Wednesday Weekly options on Gold, Silver and Copper futures will provide enhanced hedging capabilities around market moving events, including weekend headlines and FOMC meetings.”
Gold Weekly options set a record in 2021, with an average daily volume of 8,000 contracts. Silver Weekly options also had a record volume year in 2021 with an average daily volume of over 600 contracts and set a new daily volume record on January 6, 2022 of 3,200 contracts traded.
Monday and Wednesday Gold, Silver and Copper Weekly options will be listed by and subject to the rules of COMEX.
Earlier this week, CME Group unveiled its plans to launch Micro Copper futures. The launch is scheduled for May 2, 2022.