Adventurous options traders placed bets this week on oil prices hitting $250 and even $300 per barrel, betting for the first time this year that oil could exceed $250, ICE Futures Europe data cited by Bloomberg showed. On Thursday, options traders traded the equivalent of 5 million barrels of Brent at $250 and $300 call options.
Call options give traders the right—but not the obligation—to buy assets at a certain price, the so-called strike price, by a certain date. The amounts of call options at triple-digit strikes have soared…Options Traders Are Betting On $300 Oil
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