April 13, 2026 - April 14, 2026, the price of the 12°C option surged from 1.85c to 63.5c. The reason is that as time progressed, actual observation data got closer to 12°C, prompting the market to rapidly adjust its expectations.
April 13, 2026 - April 14, 2026, the price of the 13°C option surged from 0.9c to 39.25c. This is because temperatures might exceed expectations, making 13°C a strong contender.
April 13, 2026 - April 14, 2026, the price of the 10°C option plummeted from 49.5c to 0.05c. The reason is that actual temperatures have clearly surpassed 10°C, rendering this option obsolete.
April 13, 2026 - April 14, 2026, the price of the 11°C option plummeted from 49.5c to 0.05c, as actual temperatures have already exceeded 11°C.
April 12, 2026 - April 13, 2026, the price of the 9°C option surged from 26.5c to 43.5c, while options like 8°C, 11°C, 12°C, and 7°C plummeted by 15-25c. This is because, as the settlement date nears, forecasts show an overwhelming probability of the high temperature landing in the 9-10°C range, rapidly cooling market expectations for non-core ranges.
April 12, 2026 - April 12, 2026, the prices of edge options like 8°C, 14°C, 15°C, and 16°C or higher plummeted by more than 10c each. This is because as the target date approaches, weather forecasts are converging to the 9°C-12°C range, significantly dropping the probability of extreme temperatures.