Commodities Report: Tensions with Iran Spark Volatility

Option flow analysis with demand/supply

Hello Traders,

Crude oil prices surged today as geopolitical tensions with Iran continued to escalate. Mirroring our projections from last week, market participants are maintaining a defensive stance, evidenced by the heightened open interest across call strikes on the USO ETF.

Yesterday’s closing gave another confirmation of bullish bias on our scanner.

Today we dive into USO 0.00%↑ SLV 0.00%↑ GLD 0.00%↑ URA 0.00%↑ COPX 0.00%↑ and SPX, SPY levels.