The crude options volatility can no longer be hindered as it reached its 4-day high as oil futures plunged below the steady $90 per barrel mark for the first time this year due to the high probability of a hindered growth of China’s economy.

The implied volatility standing for the at-the-money options as scheduled to expire in April this year, an assessment of expected price movement in futures as well as an open indicator of options prices, was 23.07 % in the New York Mercantile Exchange up from its 21.19 % last week.

West Texas Intermediate Crude for the intended April delivery went down 56 cents to just $90.12 per barrel, its lowest settlement since last year due to the expansion of China’s service industries at its weakest pace in the last 5 months. Prices settled at $89.33 respectively.

The most dynamic options in the electronic trade today were April $85 which has drastically risen from 1 cent to 26 cents per barrel on volume of 3,452 in New York’s Mercantile Exchange. April $88 puts were the second most vigorous option with a total of 2,693 lots. They later moved to advance 8 cents to 74 cents a barrel correspondingly.

Puts reported about 58 % of the entirety of electronic exchange volume. In the previous session, bearish bets accounted for about 53 % of the 165, 684 contracts that were traded. The May $90 puts were consequently the most active options traded last week with a total of 7,224 contracts changing agreements. They were up 43 cents to $2.42 per barrel. April $80 puts further gained another 3 cents from 2 cents to 5 cents on 7,104 lots.

Open interest surged its highest level at the year’s end of last year with $105 calls with 35,945 contracts followed by April $110 calls at 34,207 and finally June $90 at 32,160.

The exchange presented real-time statistics for electronic trading and discharges useful information on the next trade day on out-cry volume where the majority of the bulk options movement happens.