Bets oil will hit $100 a barrel surge on fears of wider Middle Eastern war
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Oct 04 2024
0mins
Source: MarketWatch
Bullish Oil Market Sentiment: Options traders are increasingly betting that oil prices could reach $100 a barrel due to escalating tensions between Israel and Iran, which may disrupt crude oil supplies.
Record Open Interest in Call Options: The November $100 call options have reached a record open interest of 18,628 contracts, while December options also saw significant activity with 41,424 contracts, marking the highest levels since September.
Analyst Views on CME
Wall Street analysts forecast CME stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for CME is 285.90 USD with a low forecast of 209.00 USD and a high forecast of 320.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
10 Analyst Rating
4 Buy
4 Hold
2 Sell
Hold
Current: 281.390
Low
209.00
Averages
285.90
High
320.00
Current: 281.390
Low
209.00
Averages
285.90
High
320.00
About CME
CME Group Inc. provides a derivatives marketplace. The Company enables clients to trade futures, options, cash and over the counter (OTC) markets, optimize portfolios, and analyze data. It exchanges offer a range of global benchmark products across all major asset classes based on interest rates, equity indexes, foreign exchange (FX), energy, agricultural products and metals. It offers futures and options on futures trading through the CME Globex platform, fixed income trading via BrokerTec and FX trading on the EBS platform. In addition, it operates central counterparty clearing provider, CME Clearing. Its products provide a means for hedging, speculation and asset allocation related to the risks associated with, among other things, interest rate sensitive instruments, and changes in the prices of agricultural, energy and metal commodities. It provides clearing and settlement services for a range of exchange-traded futures and options on futures contracts and OTC derivatives.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
