Friday, March 29, 2024

OMF NZ Futures Market report – August 4, 2014

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Good two way interest in WMP on Friday.  October had the most activity trading 475 lots between $3030 and $3050, closing up $10 to $3040.  August traded 200 lots to finish down $5 at $2875.  November and December traded 50 lots each to end at $3080 and $3100 respectively.
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Losses have been constant for the past six months with futures tumbling and nothing to provide the market with a lift.

Recent activity however in the options market and also in the futures on Friday does suggest that the market is finding resistance here.  We still maintain a view that this market will see a correction and will bounce in Q4 this year.

Option interest in September calls – buyers want $3000 strike.

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