Monthly Metals Review

Monthly Metals Review

Monthly Metals Review METALS TRADING HIGHLIGHTS October 216 Highlights: Average daily volume for October 216 COMEX metal (Gold, Silver and Copper) futures was 316,25 contracts, compared with 245,683 contracts during October 215, an increase of 28.72 percent. Average daily volume for October 216 COMEX metal (Gold, Silver and Copper) options was 44,612 contracts, compared with 36,423 contracts during October 215, an increase of 22.48 percent. Average daily volume for October 216 Gold futures was 181,668 contracts, compared with 139,551 contracts during October 215, an increase of 3.18 percent. Average daily volume for October 216 Gold options was 39,354 contracts, compared with 32,24 contracts during October 215, an increase of 22.2 percent. Average daily volume for October 216 Silver futures was 63,22 contracts, compared with 5,343 contracts during October 215, an increase of 25.58 percent. Average daily volume for October 216 Silver options was 5,16 contracts, compared with 4,131 contracts during October 215, an increase of 21.42 percent. Average daily volume for October 216 Copper futures was 71,362 contracts, compared with 55,789 contracts during October 215, an increase of 27.91 percent. Average daily volume for October 216 Platinum futures was 14,411 contracts, compared with 12,777 contracts during October 215, an increase of 12.79 percent. Average daily volume for October 216 Palladium futures was 5,427 contracts, compared with 4,195 contracts during October 215, an increase of 29.37 percent. 1

www.cmegroup.com/metals Scorecard - Average Daily Volume and Open Interest Statistics October 216 Average Daily Volume Open Interest U.S. and Metric Spot Price & Conversion Electronic /Pit Ticker Symbols Contracts $ Notional ($ Millions) Contracts $ Notional ($ Millions) US$ Spot Month Close Except Copper=Ave Month Close 31-Oct-'16 US$/Gram Except Copper=US$/MT Steel=US$/MT 31-Oct-'16 2-Day Historical Volatility Gold Futures GC 181,668 $23,128 58,586 $64,748 1,273.1 $4.93 7.93% CME ClearPort 6,595 Options OG 39,354 1,12,192 CME ClearPort 8,2 E-micro Gold Futures MGC 2,491 $32 2,964 $38 1,273.1 $4.93 7.93% Silver Futures SI 63,22 $5,625 192,731 $17,149 17.796 $.57 13.15% CME ClearPort 597 Options SO 5,16 137,256 CME ClearPort 28 Copper Futures HG 71,362 $3,818 198,711 $1,632 214.1 $4,718.1 16.1% CME ClearPort 42 Options HX 242 5,389 Platinum Futures PL 14,411 $75 7,828 $3,463 978. $31.44 17.45% CME ClearPort 288 Options PO 176 5,833 Palladium Futures PA 5,427 $335 22,758 $1,46 618. $19.87 23.83% CME ClearPort 155 Options PAO 195 3,569 HRC Steel Futures HR 278 $2.84 16,863 $172 51. $562.29 13.6% CME ClearPort 259 Aluminum MW U.S. Transaction Premium Platts Futures AUP 147 3,13 Iron Ore 62% Fe, CFR China (TSI) Futures TIO 466 2,18 Iron Ore 62% Fe, CFR China (TSI) Average Price Options ICT 42 29,64 Note: CME ClearPort volumes are already included in futures or options volumes. 2

ADV - Contracts YTD ADV - Contracts Contracts Monthly Metals Review Futures - Average Daily Volume Palladium Futures Platinum Futures Copper Futures Silver Futures Gold Futures 5, 45, 4, 35, 3, 25, 2, 15, 1, 5, COMEX Metal Futures - Average Daily Volume and Year-To-Date Average Daily Volume Copper Futures Silver Futures Gold Futures Gold Futures YTD ADV Silver Futures YTD ADV Copper Futures YTD ADV 5, 25, 45, 4, 2, 35, 3, 15, 25, 2, 1, 15, 1, 5, 5, 3

Contracts ADV - Contracts YTD ADV - Contracts www.cmegroup.com/metals NYMEX Metal Futures - Average Daily Volume and Year-To-Date Average Daily Volume Palladium Futures Platinum Futures YTD ADV Platinum Futures Palladium Futures YTD ADV 3, 18, 25, 16, 14, 2, 12, 15, 1, 8, 1, 6, 5, 4, 2, Options - Average Daily Volume Platinum Options Palladium Options Copper Options Silver Options Gold Options 9, 8, 7, 6, 5, 4, 3, 2, 1, 4

Contracts ADV - Contracts YTD ADV - Contracts Monthly Metals Review Gold Silver Options - Average Daily Volume and Year-To-Date Average Daily Volume 9, Silver Options Gold Options YTD ADV Gold Options Silver Options YTD ADV 5, 8, 45, 7, 4, 6, 35, 5, 4, 3, 25, 2, 3, 15, 2, 1, 1, 5, Futures Open Interest - Month-End Palladium Futures Platinum Futures Copper Futures Silver Futures Gold Futures 1,2, 1,, 8, 6, 4, 2, 5

Contracts www.cmegroup.com/metals Options Open Interest - Month-End Platinum Options Palladium Options Copper Options Silver Options Gold Options 2,5, 2,, 1,5, 1,, 5, Gold Futures - Average Daily Volume (ADV) and Open Interest (OI) ADV Total ADV Open Interest OI 35, 7, 3, 6, 25, 5, 2, 4, 15, 3, 1, 2, 5, 1, 6

Monthly Metals Review Silver Futures - Average Daily Volume (ADV) and Open Interest (OI) ADV Total ADV Open Interest OI 16, 25, 14, 2, 12, 1, 15, 8, 6, 1, 4, 5, 2, Copper Futures - Average Daily Volume (ADV) and Open Interest (OI) ADV Total ADV Open Interest OI 12, 25, 1, 2, 8, 15, 6, 1, 4, 2, 5, 7

www.cmegroup.com/metals Platinum Futures - Average Daily Volume (ADV) and Open Interest (OI) ADV 25, Total ADV Open Interest OI 9, 8, 2, 7, 6, 15, 5, 1, 4, 3, 5, 2, 1, Palladium Futures - Average Daily Volume (ADV) and Open Interest (OI) ADV 12, Total ADV Open Interest OI 5, 45, 1, 4, 8, 35, 3, 6, 25, 2, 4, 15, 2, 1, 5, 8

Contracts Contracts Monthly Metals Review Gold Options - Electronic Average Daily Volume Total ADV Electronic ADV % Electronic ADV 8, 9% 7, 6, 5, 4, 3, 2, 1, 8% 7% 6% 5% 4% 3% 2% 1% % Silver Options - Electronic Average Daily Volume Total ADV Electronic ADV % Electronic ADV 16, 14, 12, 1, 8, 6, 4, 2, 1% 9% 8% 7% 6% 5% 4% 3% 2% 1% % 9

www.cmegroup.com/metals Gold Futures - Spot Month - 2-Day Historical Volatility 6% Gold Futures 5% 4% 3% 2% 1% % Silver Futures - Spot Month - 2-Day Historical Volatility 1% Silver Futures 9% 8% 7% 6% 5% 4% 3% 2% 1% % 1

Monthly Metals Review Copper Futures - Spot Month - 2-Day Historical Volatility 12% Copper Futures 1% 8% 6% 4% 2% % Platinum Futures - Spot Month - 2-Day Historical Volatility Platinum Futures 14% 12% 1% 8% 6% 4% 2% % 11

www.cmegroup.com/metals Palladium Futures - Spot Month - 2-Day Historical Volatility Palladium Futures 1% 9% 8% 7% 6% 5% 4% 3% 2% 1% % Gold Futures - Spot Month, 2 Day Historical Volatility and Implied Volatility Settlement Price 14 Settlement Price Historical Volatility Implied Volatility Volatility 6% 135 5% 13 4% 125 3% 12 2% 115 1% 11 % 12

Contracts Contracts Monthly Metals Review Average Hourly Total Volume - All Hours - October 216 45, 4, 35, 3, Copper Futures Silver Options Silver Futures Gold Options Gold Futures 25, 2, 15, 1, 5, New York Time Average Hourly Total Volume - Extended Trading Hours - October 216 14, Copper Futures Silver Options Silver Futures Gold Options Gold Futures 12, 1, 8, 6, 4, 2, New York Time 13

Contracts Contracts www.cmegroup.com/metals Average Hourly Total Volume - All Hours - October 216 3,5 3, Palladium Futures Platinum Futures 2,5 2, 1,5 1, 5 New York Time Average Hourly Total Volume - Extended Trading Hours - October 216 8 7 Palladium Futures Platinum Futures 6 5 4 3 2 1 New York Time 14

Open Interest - Contracts Open Interest - Contracts Monthly Metals Review 4, CFTC COT Report - Gold Futures Open Positions - Long Swap Dealers Long Managed Money Long % Swap Dealers Long % Managed Money Long 6% 35, 5% 3, 25, 4% 2, 3% 15, 2% 1, 5, 1% % Source: CFTC CFTC COT Report - Silver Futures Open Positions - Long 14, Swap Dealers Long Managed Money Long % Swap Dealers Long % Managed Money Long 6% 12, 5% 1, 8, 6, 4, 2, 4% 3% 2% 1% % Source: CFTC 15

Open Interest - Contracts www.cmegroup.com/metals CFTC COT Report - Copper Futures Open Positions - Long 14, Swap Dealers Long Managed Money Long % Swap Dealers Long % Managed Money Long 6% 12, 5% 1, 8, 6, 4, 2, 4% 3% 2% 1% % Source: CFTC Disclaimer Futures trading is not suitable for all investors, and involves the risk of loss. Futures are a leveraged investment, and because only a percentage of a contract s value is required to trade, it is possible to lose more than the amount of money deposited for a futures position. Therefore, traders should only use funds that they can afford to lose without affecting their lifestyles. And only a portion of those funds should be devoted to any one trade because they cannot expect to profit on every trade. All references to options refer to options on futures. CME Group is a trademark of CME Group, Inc. The Globe Logo, CME, Chicago Mercantile Exchange, and Globex are trademarks of Chicago Mercantile Exchange Inc. CBOT and the Chicago Board of Trade are trademarks of the Board of Trade of the City of Chicago. New York Mercantile Exchange and NYMEX are registered trademarks of the New York Mercantile Exchange, Inc. All other trademarks are the properties of their respective owners. The information within this brochure has been compiled by CME Group for general purposes only. CME Group assumes no responsibility for any errors or omissions. Additionally, all examples in this brochure are hypothetical situations, used for explanation purposes only, and should not be considered investment advice or the results of actual market experience. All matters pertaining to rules and specifications herein are made subject to and are superseded by official CME, CBOT, and NYMEX rules. Current rules should be consulted in all cases concerning contract specifications. Copyright 216 CME Group. All rights reserved. 16

CME GROUP HEADQUARTERS CME GROUP GLOBAL OFFICES 2 South Wacker Drive Chicago, Illinois 666 cmegroup.com Chicago +1 312 93 1 Singapore +65 6593 5555 Houston +1 713 658 9292 Tokyo +81 3 3242 6228 New York +1 212 299 2 Calgary +1 43 444 6876 São Paulo +55 11 2787 6451 Washington D.C. +1 22 638 3838 London +44 2 3379 37 Hong Kong +852 2582 22 Seoul +82 2 6336 6722 CME Group is a registered trademark of Chicago Mercantile Exchange Inc. The Globe logo, CME, Chicago Mercantile Exchange, Globex, CME Direct and CME Direct Messenger are trademarks of Chicago Mercantile Exchange Inc. Chicago Board of Trade is a trademark of the Board of Trade of the City of Chicago, Inc. NYMEX is a trademark of the New York Mercantile Exchange, Inc. S&P and S&P 5 are trademarks of The McGraw-Hill Companies, Inc. These products are not sponsored, sold or endorsed by S&P, a division of The McGraw-Hill Companies, Inc., and S&P makes no representation regarding the advisability of investing in them. All other trademarks are the property of their respective owners. NASDAQ-1 is a trademark of The Nasdaq Stock Market, used under license. Russell 1 is a trademark and service mark of the Frank Russell Company, used under license. All rights in the FTSE 1 Index, FTSE 1 U.S. Index, FTSE China 5 Index, FTSE Developed Europe Index and the FTSE Emerging Markets Index (the Index ) vest in FTSE International Limited ( FTSE ). FTSE is a trade mark of the London Stock Exchange Group companies and is used by FTSE under licence. E-mini FTSE 1 Index futures, E-mini USD-Denominated FTSE 1 Index Futures, E-mini FTSE China 5 Index Futures E-mini FTSE Developed Europe Index Futures and E-mini FTSE Emerging Markets Index Futures(the Product ) have been developed solely by Chicago Mercantile Exchange Inc. ( CME ). The Index is calculated by FTSE or its agent. FTSE and its licensors are not connected to and do not sponsor, advise, recommend, endorse or promote the Product and do not accept any liability whatsoever to any person arising out of (a) the use of, reliance on or any error in the Index or (b) investment in or operation of the Product. FTSE makes no claim, prediction, warranty or representation either as to the results to be obtained from the Product or the suitability of the Index for the purpose to which it is being put by CME. Futures trading is not suitable for all investors, and involves the risk of loss. Futures are a leveraged investment, and because only a percentage of a contract s value is required to trade, it is possible to lose more than the amount of money deposited for a futures position. Therefore, traders should only use funds that they can afford to lose without affecting their lifestyles. And only a portion of those funds should be devoted to any one trade because they cannot expect to profit on every trade. All examples in this brochure are hypothetical situations, used for explanation purposes only, and should not be considered investment advice or the results of actual market experience. The information within this brochure has been compiled by CME Group for general purposes only and has not taken into account the specific situations of any recipients of this brochure. CME Group assumes no responsibility for any errors or omissions. All matters pertaining to rules and specifications herein are made subject to and are superseded by official CME, NYMEX and CBOT rules. Current CME/CBOT/NYMEX rules should be consulted in all cases before taking any action. 216 CME Group Inc. All rights reserved. PM1833//916