Some oil traders are tapping the options market to ease the financial pressure caused by soaring margins and volatile crude prices. Since war broke out in Ukraine in February there has been a surge in trading of so-called euro-box spreads on West Texas Intermediate. The strategy is similar to a zero coupon bond -- a way for sellers to raise cash in the face of limited sources of capital. While options traders say it’s a relatively normal part of the market, open interest in such contracts has jumped to the highest level since 2016, underscoring the surge in demand for the trades. With prices spiking and then slumping ... (full story)