On Monday the CBOE Crude oil ETF Volatility Index (OVX) rose 2.37 to close at 56.93, and a New York Times article noted that –
“Oil prices fell to six-year lows on Monday in the face of concerns that a glut in the United States was outpacing already-brimming storage facilities. … On Monday, the price of West Texas Intermediate crude, the main United States benchmark, fell about 2 percent to about $44 a barrel, a six-year low, while Brent crude, the international benchmark, fell by about 2 percent to about $53 a barrel. …”
Over the past year the OVX Index has risen about 180% and the USO ETF priced fell by 53%. If you would like to learn more about how the powerful OVX futures and options can be used for portfolio management and diversification, please visit www.cboe.com/OVX.