WTI Crude Oil Futures (CL) Options Chain
The options chain displays all available contracts with real-time quotes, Greeks, volume, and open interest for each strike and expiration. It is the primary tool for options trade selection.
WTI Crude Oil Futures (CL) operates in the Energy Futures sector, specifically the Energy Futures industry, listed on NYMEX. NYMEX WTI Crude Oil futures (CL): the global benchmark for North American crude oil pricing, settling against physically deliverable barrels at Cushing, OK.
Snapshot as of May 14, 2026.
- Spot Price
- $88.75
- Total OI
- 93.1K
- Total Volume
- 5.7K
- Front Expiration
- 29 days
- Second Expiration
- 35 days
- ATM IV
- 23.1%
- Avg Bid/Ask Spread
- 33.67%
As of May 14, 2026, WTI Crude Oil Futures (CL) has 93.1K open contracts and 5.7K contracts traded. The nearest expiration is 29 days out, followed by 35 days. ATM implied volatility is 23.1%. Average bid/ask spread across the chain is 33.67%: wider spreads, size positions conservatively. The options chain aggregates every listed strike and expiration, letting traders evaluate skew, term structure, and liquidity in a single view.
How CL options chain Data Feeds Strategy Selection
Strategy selection on WTI Crude Oil Futures options does not derive from any single metric in isolation. The options chain view above sits inside a broader read: ATM IV currently sits at 23.1% and dealer gamma exposure is positive, so dealer hedging is mechanically mean-reverting. Combine the options chain data here with the volatility-skew surface, dealer-gamma exposure, max-pain level, and upcoming-events calendar to build a positioning thesis. Risk-defined structures (credit spreads, debit spreads, iron condors) are usually safer than naked positions while the regime is uncertain; the data on this page anchors the inputs but does not by itself constitute a trade thesis.
Learn how the options chain is reported and how to read the data →
CL most-active contracts
| Type | Strike | Expiration | Volume | OI | IV | Bid | Ask |
|---|---|---|---|---|---|---|---|
| PUT | $95.00 | May 15, 2026 | 0 | 121 | 955.9% | $5.40 | $6.90 |
| PUT | $90.00 | May 15, 2026 | 20 | 404 | 716.6% | $0.35 | $1.65 |
Top 2 contracts from the ORATS-sourced nightly scan; ranked by volume within the broader S&P 500/400/600 + ETF universe.
Frequently asked CL options chain questions
- What does the CL options chain show right now?
- As of May 14, 2026, WTI Crude Oil Futures (CL) has 93.1K contracts outstanding and 5.7K traded today, with ATM IV of 23.1%. The full chain spans every listed strike and expiration with bid/ask, Greeks, volume, and open interest per contract.
- What expirations are available for CL options?
- The nearest expiration is 29 days out, followed by 35 days. Listed expirations typically extend monthly with weeklies between, plus LEAPS one to two years out for liquid names.
- How tight are CL options bid/ask spreads?
- Average bid/ask spread across the chain is 33.67%. Wider spreads warrant conservative sizing; mid-market fills are unreliable for retail-size orders.