Traders Pile Into Bullish Copper Options as Output Cuts Loom
Copper jumped the most in more than 16 months on potential supply tightness.
Photographer: Jim R. Bounds/Bloomberg
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Traders bought into bullish copper options Wednesday, betting the industrial metal’s rally will extend on possible supply tightness and monetary easing.
Total options volume spiked to more than 52,000 contracts, according to exchange data. Implied volatility and the call skew jumped, signaling additional bets on higher prices.