CL - WTI Crude Oil Futures
NYMEX WTI Crude Oil futures (CL): the global benchmark for North American crude oil pricing, settling against physically deliverable barrels at Cushing, OK.
As of May 14, 2026: spot at $88.75, ATM IV 23.1%, net GEX $9.2M.
- Sector
- Energy Futures
- Industry
- Energy Futures
- Exchange
- NYMEX
What CL Looks Like to Options Traders Today
IV rank of 39.9% sits near the 1-year median, where strategy choice depends on directional conviction and the event calendar rather than vol regime alone; positive net gamma exposure ($9.2M) means dealers hedge against trend, damping realized volatility and biasing price toward heavy-OI strikes; the 25-delta skew (0.017) is roughly flat across the wings.
What This Page Covers
The CL overview links into per-metric analysis views: max pain, gamma exposure, volatility skew, expected move, options chain, open interest history, and aggregate Greeks.
Frequently asked CL overview questions
- What is CL?
- CL is the ticker symbol for WTI Crude Oil Futures, a listed futures contract. NYMEX WTI Crude Oil futures (CL): the global benchmark for North American crude oil pricing, settling against physically deliverable barrels at Cushing, OK. Listed on NYMEX. CL is the listed futures symbol shown on this page; futures traders use the contract for directional exposure, hedging the underlying instrument, and as the delivery instrument for options-on-futures structures.
- What does the CL options snapshot look like today?
- As of May 14, 2026, the CL options snapshot shows spot at $88.75, ATM IV 23.1%, IV rank 39.9%, net GEX $9.2M, expected move 6.63%. The full options chain, Greeks by strike and expiration, per-strike open-interest distribution, dealer gamma and delta exposure, and the volatility skew surface are linked from this overview page. Each per-metric route refreshes once per trading session and reflects the most recent close-of-business listed-options state.
- What are CL's key statistics?
- WTI Crude Oil Futures (CL) carries a NYMEX-listed WTI Crude Oil Futures contract with a $1000 per dollar point value and $0.01 per barrel tick. Full contract specifications including settlement convention, tick size, and curve term-structure context are on the contract reference block above. Options-on-futures pricing references these spec fields directly via the multiplier and exchange contract rules.
- What does the CL futures curve look like?
- CL represents the WTI Crude Oil Futures contract root on the NYMEX, a Energy Futures listing. The full curve consists of multiple monthly (and occasionally quarterly) expirations stretching out the calendar; analytics on this page reference the front-month listing by default while the per-contract pages cover specific listed months. Each listed month carries its own implied-volatility surface, open-interest distribution, and basis to the underlying. The front-month contract typically dominates volume; back-month listings price the term structure of the underlying's expected volatility and (for physically-delivered contracts) the carry between spot and forward.
- How current is the CL data on this page?
- The options snapshot above is dated May 14, 2026 and refreshes once per session, with all per-strike Greeks and exposure aggregates recomputed at the daily close. Contract specifications come from the listing exchange (CME / CBOT / NYMEX / COMEX / CFE) and do not change over the life of the contract once listed. Options-on-futures data, when available, refreshes after each trading session. There is no equity-style FINRA reporting or sell-side analyst coverage for futures contracts.