Traders Bet on $100 Oil at Record Pace ...Middle East

Traders flocked to the crude oil options market last week, trading record numbers of call options that Brent would hit $100 per barrel in the coming months, data compiled by Bloomberg showed on Monday. As tensions in the Middle East escalated earlier this month, traders moved to the options market, betting on higher oil prices as a hedge against spiking futures prices. The call options give traders the right—but not the obligation—to buy assets at a certain price, the so-called strike price, by a certain date.   …

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