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Saudi ‘Day of Rage’ Lures $200 Oil Call Options: Chart of Day

Options traders are betting more than ever that crude oil is heading to $200 a barrel as some websites call for a “Day of Rage” in Saudi Arabia and anti-government protests spread in the Middle East and North Africa.

The CHART OF THE DAY shows open interest, or the number of outstanding contracts, for “call” options to buy New York crude for June delivery at $200 a barrel. The number has escalated, along with crude futures, to the highest since the options started trading in July 2009 amid worsening civil unrest in Libya and rare demonstrations in Saudi Arabia.