Copper's Options Paradox

From cmegroup.com

Neither the escalation of the trade war between the US and China nor the intense debate regarding the direction of U.S. monetary policy have had much impact on the prices of copper options – at least not yet. Implied volatility on COMEX High Grade Copper options has rarely been lower (Figure 1). Copper options are hardly unique in this regard. While there has been a spike in oil options volatility and a modest rise in the implied volatility of equity index options, most other options markets, including those for gold, silver, currencies and U.S. Treasuries, remain in the doldrums. Like the other markets, the ... (full story)