Recap of Summer 2017 activity posted

I’ve just posted a recap of CME activity in the Case Shiller futures and option for July and August.  You can find in the Reports section of link here.

This is a short review of a much longer time period as I spent much of August on vacation, to include hiking (Switzerland) often away from WiFi.  I cleared my head, and now I’d like to focus on these contracts -and other forms of hedging home prices.

This recap is shorter than most, but still includes pages covering quotes, market moves, and activity.  I’ll amend with missing pages over time as I blog about key points (e.g. options).

The summary highlights of the recap include:

–There were trade in 6 futures contracts in July, 18 in August,  and 10 option contracts.

–OI slipped to 45 as 16 Aug ’17 contracts expired. OI remains very front-loaded (1.26 years, average-to-expiration) and remains concentrated in the November expiration cycle (87%).

–Bids and offers were generally lower but rose in SDG and SFR.

–Bid/ask spreads (on contracts that had two-sided markets on both June 30 and Sept 5) were about unchanged, but with mixed results across regions and expirations.

– Two-sided quotes are now available in Nov ’19.

Feel free to contact me (johnhdolan@homepricefutures.com) if you have any trade ideas, or axes.

 

 

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