DERIVATIVES, OSLO BØRS - MAY 2015 The OBX index increased slightly by 0.7% to 581.86 points in May. So far this year the index is up 11.1%. The average number of contracts traded in May was 32 860 contracts/day. The average year-to-date is 40 942, whereas the average for 2014 was 47 289. The OBX option premium decreased by 28% to 21 MNOK (2015 avg: 26 MNOK), and the index future turnover fell by 15% to 12.2 BNOK (2015 avg: 12.8 BNOK). The stock option premium decreased slightly by 3% to 75 MNOK (2015 avg: 102 MNOK), whereas the forward exposure fell by 55% to 911 MNOK (2015 avg: 1 133 MNOK). The most traded single stock option in May was Statoil with 33 MNOK, 44% of the total stock option premium turnover. Yara and Marine Harvest followed with a turnover of 7.9 and 7 MNOK respectively. The top three stock derivatives accounted for 63% of the total stock option turnover for the month. Norsk Hydro, Norwegian and Yara were the most traded stock forwards, accounting for 61% of the total exposure. Norsk Hydro had a turnover of 150 MNOK, 36% of the total. From July 1 st, the fees will be reduced as follows: A per transaction fee-cap is introduced - maximum fee per transaction per end-customer will be NOK 15 000 Fees for stock forwards and futures are reduced to 0.04% (from 0.05%) Please note that the dividend adjustment rule will be changed from July 1st. Currently the derivative contracts are adjusted for the part of dividends exceeding 5% of the underlying stock s value. With the new dividend rule, only derivative contracts for dividends deemed extraordinary by Oslo Børs will be adjusted for. The 100% dividend adjusted group will remain (currently consisting of SDRL and MHG). The OBX index currently has 26 members as a result of Schibsted s introduction of a new share class. The listing of B-shares has been treated as a demerger where both the A- and B-shares are included. The OBX index will contain 26 constituents until the next rebalance effective June 19 th. Oslo Børs offers standardised options and forward/futures on 20 stocks and the OBX index. In addition, there are futures listed on the OBOSX index. There are 8 market makers in Norwegian derivatives. This summary continues with a presentation of general statistics, followed by a product- and volatility overview towards the end. We hope to see you back in the derivatives market next month. Disclaimer: All information in this presentation is obtained from documents already available to the public. Oslo Børs does not guarantee the accuracy of the information included in the presentation. This report will not be updated if any changes occur due to cancellations. The presentation does not in any way constitute a recommendation by Oslo Børs.
Contracts/ day Contract Distribution 80 000 75 000 70 000 65 000 60 000 55 000 50 000 45 000 40 000 35 000 30 000 25 000 20 000 Index Futures Single Stock Fwd/Fut OBX Index Options Stock Options 15 000 10 000 5 000 0 May 14 Jun 14 Jul 14 Aug 14 Sep 14 Oct 14 Nov 14 Dec 14 Jan 15 Feb 15 Mar 15 Apr 15 May 15
TURNOVER - CONTRACTS/DAY (average) Contracts/day last month INDEX - FUTURES 11 582 STOCK FWD/FUT 9 014 OBX - OPTIONS 1 921 STOCK OPTIONS 10 342 Contracts/day YTD 2015 INDEX - FUTURES 11 456 STOCK FWD/FUT 13 479 OBX - OPTIONS 2 171 STOCK OPTIONS 13 836
LIQUIDITY - OPTION PREMIUM DISTRIBUTION 22.0 % Option Premium last month 7.2 % 6.8 % 8.2 % 3.8 % 3.7 % 3.5 % 2.1 % 1.9 % 1.6 % 1.5 % 0.9 % 0.8 % 0.6 % 0.6 % Statoil OBX Options Yara International Marine Harvest Group Norwegian Air Shuttle Petroleum Geo-Services Norsk Hydro Opera Software DNB Seadrill Subsea 7 Telenor Storebrand TGS Nopec Geophysical Co. 34.0 % 0.3 % 0.2 % 0.0 % 0.0 % 0.4 % Royal Caribbean Cruises DNO International Orkla REC Silicon Gjensidige Forsikring Norske Skog Aker Solutions 12.8 % Option Premium YTD 2015 5.1 % 8.4 % 4.7 % 4.6 % 3.0 % 3.0 % 2.8 % 2.5 % 2.2 % Statoil OBX Options Yara International Norsk Hydro Storebrand Norwegian Air Shuttle DNB Telenor Marine Harvest Group Seadrill 20.2 % 23.5 % 0.1 % 0.0 % 0.3 % 0.3 % 0.1 % 2.2 % 1.7 % 1.5 % 0.6 % 0.5 % Subsea 7 TGS Nopec Geophysical Co. Petroleum Geo-Services Opera Software Royal Caribbean Cruises DNO International Orkla Aker Solutions REC Silicon Gjensidige Forsikring Norske Skog AKAKS Basket
SINGLE STOCK FORWARD/FUTURE - EXPOSURE DISTRIBUTION 18.0 % 6.9 % Stock Fwd/Fut Premium last month 6.4 % 5.8 % 4.0 % 3.7 % 3.6 % 3.5 % 3.0 % 2.8 % Norsk Hydro Norwegian Air Shuttle Yara International Gjensidige Forsikring DNO International REC Silicon Seadrill Petroleum Geo-Services Opera Software Royal Caribbean Cruises 36.3 % 0.0 % 0.0 % 2.6 % 1.2 % 1.2 % 0.4 % 0.2 % 0.2 % 0.1 % Marine Harvest Group DNB Telenor Statoil Storebrand Orkla Norske Skog Subsea 7 Aker Solutions TGS Nopec Geophysical Co. Stock Fwd/Fut Premium YTD 2015 Norsk Hydro Norwegian Air Shuttle 6.6 % 5.9 % 5.7 % 5.2 % 3.9 % 3.7 % 3.6 % 3.1 % 3.1 % Seadrill Statoil Marine Harvest Group TGS Nopec Geophysical Co. Petroleum Geo-Services 9.1 % 3.1 % Telenor Subsea 7 Gjensidige Forsikring 9.4 % 1.6 % 1.5 % 0.9 % 0.9 % DNO International DNB Opera Software REC Silicon Yara International 0.7 % Royal Caribbean Cruises 31.7 % 0.2 % 0.1 % Orkla Storebrand Norske Skog Aker Solutions
Turnover Premium MNOK Open Interest (avg) - Contracts Turnover Premium MNOK Open Interest (avg) - Contracts PREMIUM - SINGLE STOCK DERIVATIVES Single Stock Options 250 800 000 200 200 700 000 600 000 150 159 500 000 100 115 131 113 122 400 000 300 000 50 66 63 87 78 77 75 200 000 40 100 000 0 May 14 Jun 14 Jul 14 Aug 14 Sep 14 Oct 14 Nov 14 Dec 14 Jan 15 Feb 15 Mar 15 Apr 15 May 15 0 Turnover Premium Open Interest (avg) Single Stock Forwards & Futures 3 000 400 000 2 500 2 573 350 000 300 000 2 000 250 000 1 500 1 000 500 0 413 911 1 014 753 1 501 786 873 1 435 518 355 1 006 665 May 14 Jun 14 Jul 14 Aug 14 Sep 14 Oct 14 Nov 14 Dec 14 Jan 15 Feb 15 Mar 15 Apr 15 May 15 200 000 150 000 100 000 50 000 0 Turnover Premium Open Interest (Avg)
Turnover exposure MNOK Open Interest (avg)- Contracts Turnover Premium MNOK Open Interest (avg)- Contracts PREMIUM - INDEX DERIVATIVES OBX - Index Options 140 120 000 120 132 120 100 000 100 80 000 80 60 000 60 40 20 52 46 26 40 20 61 36 23 20 29 21 40 000 20 000 0 May 14 Jun 14 Jul 14 Aug 14 Sep 14 Oct 14 Nov 14 Dec 14 Jan 15 Feb 15 Mar 15 Apr 15 May 15 Turnover premium / month Open interest (avg) 0 Index Futures 30 000 120 000 25 000 100 000 20 000 80 000 15 000 10 000 5 000 16 029 15 095 14 177 15 761 12 663 19 871 15 656 17 912 13 480 10 546 13 796 14 354 12 191 60 000 40 000 20 000 0 May 14 Jun 14 Jul 14 Aug 14 Sep 14 Oct 14 Nov 14 Dec 14 Jan 15 Feb 15 Mar 15 Apr 15 May 15 0 Turnover exposure MNOK Open Interest (avg)
BROKER STATISTICS - MAY 2015 Equity Options 13.8 % LSE Derivatives DNB BANK ASA 23.7 % 5.6 % 4.5 % 1.7 % 1.0 % 0.7 % 0.6 % 0.4 % 0.4 % 0.3 % Danske Bank A/S Sparebank 1 Markets Nordea Markets Arctic Securities ASA NetFonds AS Enskilda Securities Handelsbanken Capital Markets Carnegie ASA 47.1 % ABG Sundal Collier Norge ASA Pareto Securities AS 14.0 % Index Options 11.0 % 2.9 % 1.3 % 0.6 % 0.5 % 0.2 % DNB BANK ASA LSE Derivatives Danske Bank A/S Enskilda Securities Nordea Markets Sparebank 1 Markets 33.1 % Handelsbanken Capital Markets NetFonds AS 36.4 % Pareto Securities AS
Stock Forwards & Futures 88.0 % DNB BANK ASA Sparebank 1 Markets 5.9 % Carnegie ASA 5.3 % Danske Bank A/S 0.8 % 0.1 % Handelsbanken Capital Markets 37.0 % Index Futures 6.4 % 3.8 % 2.4 % 2.1 % 1.8 % 1.7 % 0.4 % DNB BANK ASA LSE Derivatives Handelsbanken Capital Markets Sparebank 1 Markets Enskilda Securities 0.1 % Carnegie ASA Danske Bank A/S NetFonds AS Nordea Markets 44.3 % Arctic Securities ASA "LSE Derivatives" is a composite entry and includes all derivatives members at London Stock Exchange Derivatives Market.
OBX INDEX - CONSTITUENTS AND OTHER INFORMATION The OBX Index consists of the 25 most traded equities (currently 26 due to demerger in Schibsted), and the constituents are selected on the basis of six months turnover rating. It is a semi-annually revised free float adjusted total return index (dividend adjusted) with composition changes and cappings implemented on the first Friday after the third Thursday in June and December. In the period between the composition review dates, the number of shares for each constituent is fixed with exception of cappings and continuous adjustments for corporate actions. The OBX Index is a tradable index with exchange traded futures and options available. 29.05.15: 581.86 All time high (15.04.15 close): 600.64
The current OBX and OBOSX Index compositions can be found below. The Derivatives department at Oslo Børs distributes a daily report with information on the indices and their components. If you would like to receive this daily update, please contact mps@oslobors.no. Date: 1. jun. 2015 OBX OBOSX Close - prev. day: 581.86 71.08 OBOSX weight of OBX: 9.49 % Divisor: 1 483 085 429 1 152 633 675 USDNOK: 7.79 Weight % Weight % Close Last Day Dividend Dividend Last Update Multiplier Multiplier Value Multiplier Multiplier Value Ticker Company Name in OBX in OBOSX Prev. day Note Incl. Div. Stock in NOK Div. Info OBX OBX OBOSX OBOSX Industry 1 AKA Akastor 0.23 % 3.22 % 13.50 08.04.15 16.03.15 149 624 413 2 019 929 576 195 412 886 2 638 073 961 Oil & Gas Equipment & Services 2 AKSO Aker Solutions 0.79 % 10.88 % 45.62 09.04.15 1.45 10.04.15 149 624 413 6 825 865 721 195 412 886 8 914 735 859 Oil & Gas Equipment & Services 3 BWLPG BW LPG Limited 0.61 % 64.30 19.05.15 $1.15 8.96 29.05.15 81 765 829 5 257 542 805 Oil & Gas Storage & Transportation 4 DETNOR Det Norske Oljeselskap 0.60 % 51.05 13.04.15 06.05.15 101 309 301 5 171 839 816 Oil & Gas Exploration & Production 5 DNB DNB 15.46 % 136.50 23.04.15 3.80 26.05.15 977 279 316 133 398 626 634 Diversified Banks 6 DNO DNO 0.78 % 11.01 28.05.15 29.05.15 608 628 119 6 700 995 590 Oil & Gas Exploration & Production 7 FOE Fred Olsen Energy 0.23 % 3.13 % 59.30 27.05.15 06.05.15 33 132 064 1 964 731 395 43 271 229 2 565 983 880 Oil & Gas Drilling 8 GJF Gjensidige Forsikring 2.78 % 120.00 23.04.15 5.90 06.05.15 199 974 568 23 996 948 160 Multi-line Insurance 9 GOGL Golden Ocean Group 0.14 % 32.44 29.05.15 36 900 745 1 197 060 168 Marine 10 MHG Marine Harvest 3.20 % 89.65 26.05.15 1.30 29.04.15 307 752 591 27 590 019 783 Packaged Foods & Meats 11 NAS Norwegian 1.05 % 301.90 12.05.15 14.04.15 29 887 818 9 023 132 254 Airlines 12 NHY Norsk Hydro 6.04 % 36.49 06.05.15 1.00 10.04.15 1 427 882 601 52 103 436 110 Aluminum 13 OPERA Opera Software 1.04 % 67.30 02.06.15 0.26 26.05.15 133 666 532 8 995 757 604 Internet Software & Services 14 ORK Orkla 5.75 % 60.90 16.04.15 2.50 28.04.15 815 142 291 49 642 165 522 Packaged Foods & Meats 15 PGS Petroleum Geo-Services 1.18 % 16.28 % 47.70 13.05.15 0.70 26.05.15 214 114 978 10 213 284 451 279 639 030 13 338 781 731 Oil & Gas Equipment & Services 16 RCL Royal Caribbean Cruises 4.31 % 591.00 15.05.15 $0.30 2.34 29.05.15 62 945 361 37 200 708 351 Hotels, Resorts & Cruise Lines 17 REC REC Silicon ASA 0.36 % 1.683 06.05.15 26.05.15 1 851 051 637 3 115 319 905 Semiconductor Equipment 18 SCHA Schibsted A 4.66 % 499.50 08.05.15 3.50 29.05.15 80 557 644 40 238 543 178 Publishing 19 SCHB Schibsted B 0.00 % 0.00 29.05.15 80 557 644 0 Publishing 20 SDRL Seadrill 2.26 % 16.93 % 93.70 29.05.15 208 488 552 19 535 377 322 148 030 062 13 870 416 809 Oil & Gas Drilling 21 STB Storebrand 1.45 % 27.90 15.04.15 27.02.15 447 499 099 12 485 224 862 Life & Health Insurance 22 STL Statoil 18.80 % 145.80 13.08.15 1.80 20.05.15 1 112 784 054 162 243 915 073 Integrated Oil & Gas 23 SUBC Subsea 7 S.A. 2.49 % 30.22 % 81.50 17.04.15 14.04.15 263 306 463 21 459 476 735 303 737 625 24 754 616 438 Oil & Gas Equipment & Services 24 TEL Telenor 15.33 % 176.20 1) 30.10.15 3.50 28.05.15 750 729 015 132 278 452 443 Integrated Telecom. Services 25 TGS TGS Nopec Geophysical 2.31 % 19.34 % 196.00 06.05.15 8.50 18.05.15 101 535 776 19 901 012 096 80 838 583 15 844 362 268 Oil & Gas Equipment & Services 26 YAR Yara International 8.16 % 392.20 11.05.15 13.00 26.05.15 179 470 053 70 388 154 787 Fertilizers & Agricultural Chemicals Tot: OBX 100.00 % 581.86 862 947 520 340 Tot: OBOSX 100.00 % 71.08 81 926 970 946 Note Note Explanation Gen. AGM/ Last inclusive dates as notified on respective company's web page, and dividend proposed by the board 1) Telenor has, subject to approval at AGM 20.05.2015, proposed a dividend of total NOK 7.30 for 2014. Pay-out in two tranches: NOK 3.80 last day inclusive 20.05.2015 and NOK 3.50 expected last day inclusive 30.10.2015 NB: Norwegian Stock derivatives will be adjusted for the part of dividends exceeding 5% of underlying fixing (vwap) on last Cum-date. SDRL and MHG are adjusted for the full dividend amount. Legends: = Recent updates XX.XX = Upcoming Dividend XX.XX = Upcoming Dividend exceeding 5% of Current Stock Price (Prev. Close). DISCLAIMER: Information and estimates given in this document are solely intended as a service to the market. Oslo Børs accepts no responsibilty for the accuracy of the information and estimates. Oslo Børs shall not be liable for any loss or damage w hatsoever or how soever caused or arising in connection w ith the information and estimates given in this document.
OSLO BØRS - LISTED DERIVATIVES OPEN INTEREST - OPTIONS AND INDEX FUTURES ONLY OBX Index (OBX) Domicile: Norway The OBX INDEX consists of the 25 most traded securities on Oslo Børs. The constituents are selected on the basis of six months turnover rating (Jun & Dec). It is a semi-annually revised, free float adjusted total return index (dividend adjusted). Home: www.oslobors.no Liquidity: Tradable in blocks of around 5000 contracts. Sector: N/A Last (NOK): 581.86 Avg.Imp.Vol last month: 16 % ISIN: NO 000 000 0021 Expiry: Each Month Reuters:.OBX Open Int Options (avg): 55 805 Bloomberg: OBX NO Open Int Fut (avg): 51 271 Weight of All Shares: 44.61% O/I Options avg. ytd: 51 633 O/I Fut avg. ytd: 63 826 Derivatives: Options & Futures Market Maker(s): 8 OBOSX Index (OBOSX) Domicile: Norway The OSLO BØRS OBX OIL SERVICE INDEX is a free float adjusted total return index (dividend adjusted) composed of the most liquid shares within the Oil Service sector. Only companies that are members of both the OBX index and the Energy Equipment and Service Index are included. Home: www.oslobors.no Sector: OBX Index & Energy Last (NOK): 71.08 Equipment and Service Index Avg.Imp.Vol last month: N/A ISIN: NO 001 059 0086 Expiry: Each Month Reuters:.OBOSX Bloomberg: OBOSX.IND Weight of OBX: 9.49% Derivatives: Futures Open Int Fut (avg): O/I Fut avg. ytd: Market Maker(s): 2 283 574 Aker Solutions (AKSO) AKER SOLUTIONS is a global provider of Sector: Oil & Gas Equipment & products, systems and services to the oil and Services 10101020 Last (NOK): 45.61 gas industry. Its engineering, design and ISIN : NO 001 071 6582 Avg.Imp.Vol last month: 52 % technology bring discoveries into Reuters : AKSO.OL Expiry: Mar, Jun, Sep, Dec production and maximize recovery. Home: www.akersolutions.com Bloomberg : AKSO NO Open Int (avg): 3 000 Liquidity: Tradable for volumes around 2000 OBX Weight : 0.79% O/I avg. ytd: 3 256 Domicile: Norway contracts. Derivatives : Options & Fwd/Fut Market Maker(s): 3
DNB (DNB) DNB is Norway's largest financial services Sector: Diversified Banks 40101010 Last (NOK): 135.40 group and offers financial products and ISIN : NO 001 003 1479 Avg.Imp.Vol last month: 21 % services related to the money and capital markets. Reuters : DNB.OL Expiry: Each Month Home: www.dnb.no Bloomberg : DNB NO Open Int (avg): 18 173 Liquidity: Tradable in blocks of 3000 OBX Weight : 15.46% O/I avg. ytd: 30 623 Derivatives : Options & Fwd/Fut Market Maker(s): 7 DNO International (DNO) DNO International is an international independent petroleum company engaged in the acquisition, exploration, development and operation of oil and natural gas properties. Home: www.dno.no Sector: Oil & Gas Exploration & Production 10102020 Last (NOK): 10.77 ISIN : NO 000 392 1009 Avg.Imp.Vol last month: 60 % Reuters : DNO.OL Expiry: Mar, Jun, Sep, Dec Bloomberg : DNO NO Open Int (avg): 29 601 Liquidity: Tradable for volumes around 1000 OBX Weight : 0.78% O/I avg. ytd: 28 886 Derivatives : Options & Fwd/Fut Market Maker(s): 2 Gjensidige Forsikring (GJF) GJENSIDIGE FORSIKRING is Norway's largest general insurance company, with business Sector: Multi-line Insurance 40301030 Last (NOK): 119.70 in Denmark, Sweden and the Baltic ISIN : NO 0010582521 Avg.Imp.Vol last month: 20 % countries. The group also offers banking, Reuters : GJF.OL Expiry: Mar, Jun, Sep, Dec pension and saving products in Norway. Home: www.gjensidige.com Bloomberg : GJF NO Open Int (avg): 1 588 Liquidity: Tradable for volumes around 2000 OBX Weight : 2.78% O/I avg. ytd: 1 280 Domicile: Norway contracts. Derivatives : Options & Fwd/Fut Market Maker(s): 3
Marine Harvest Group (MHG) MARINE HARVEST is the world s leading Sector: Packaged Foods & Meats seafood company offering a wide range of 30202030 Last (NOK): 90.65 seafood products and produce one fourth of ISIN : NO 000 305 4108 Avg.Imp.Vol last month: 32 % the world's farmed salmon. The company is Reuters : MHG.OL Expiry: Mar, Jun, Sep, Dec present in 18 countries and has 5000 employees worldwide. Bloomberg : MHG NO Open Int (avg): 33 498 Home: www.marineharvest.com Liquidity: Tradable in blocks of 2000 OBX Weight: 3.20% O/I avg. ytd: 14 702 Derivatives : Options & Fwd/Fut Market Maker(s): 4 Norwegian Air Shuttle (NAS) NORWEGIAN AIR SHUTTLE is Europe's third largest low cost airline and the second Sector: Airlines 20302010 Last (NOK): 298.60 largest airline in Scandinavia. Norwegian ISIN : NO 001 019 6140 Avg.Imp.Vol last month: 47 % operates 55 aircraft on 239 routes to 94 Reuters : NAS.OL Expiry: Mar, Jun, Sep, Dec destinations and employs approximately 2000 people. Bloomberg : NAS NO Open Int (avg): 9 484 Home: www.norwegian.no Liquidity: Tradable in blocks of around 500 OBX Weight: 1.05% O/I avg. Ytd: 6 130 Derivatives : Options & Fwd/Fut Market Maker(s): 2 Norsk Hydro (NHY) NORSK HYDRO is a global supplier of Sector: Aluminum 15104010 Last (NOK): 36.31 aluminium with activities throughout the ISIN : NO 000 505 2605 Avg.Imp.Vol last month: 30 % value chain, from bauxite extraction to the Reuters : NHY.OL Expiry: Each Month production of rolled and extruded aluminium products and building systems. Based in Norway, the company employs 22 000 people in more than 40 countries. Bloomberg : NHY NO and NOHYF US Open Int (avg): 133 651 Home: www.hydro.com Liquidity: Tradable in blocks of 5000 OBX Weight : 6.04% O/I avg. ytd: 136 231 Derivatives : Options & Fwd/Fut Market Maker(s): 7
Norske Skog (NSG) NORSKE SKOG is one of the world's biggest Sector: Paper Products 15105020 Last (NOK): 3.83 producer of publication paper, with 12 paper ISIN : NO 000 413 5633 Avg.Imp.Vol last month: 84 % mills in 10 countries and a production Reuters : NSG.OL Expiry: Mar, Jun, Sep, Dec capacity of around 4 mill. tonnes per year. Home: www.norskeskog.com Bloomberg : NSG NO Open Int (avg): 4 060 Liquidity: Tradable in blocks of 2000 OBX Weight : N/A O/I avg. ytd: 4 854 Derivatives : Options & Fwd/Fut Market Maker(s): 2 Opera Software (OPERA) OPERA SOFTWARE delivers the best Internet experience on any device. The company targets PCs, mobile phones, portable media players, set-top boxes, gaming consoles and other vertical markets. Home: www.opera.com Sector: Internet Software & Services 45101010 Last (NOK): 66.70 ISIN : NO 001 004 0611 Avg.Imp.Vol last month: 50 % Reuters : OPERA.OL Expiry: Mar, Jun, Sep, Dec Bloomberg : OPERA NO Open Int (avg): 9 769 Liquidity: Tradable for volumes around 500 OBX Weight : 1.04% O/I avg. ytd: 5 881 Derivatives : Options & Fwd/Fut Market Maker(s): 1 Orkla (ORK) ORKLA operates in the branded consumer goods, aluminium solutions and financial investment sectors. The Group has a turnover of NOK 57 billion and 30 000 employees in more than 40 countries. Home: www.orkla.no Sector: Industrial Conglomerates 20105010 Last (NOK): 61.40 ISIN : NO 000 373 3800 Avg.Imp.Vol last month: 21 % Reuters : ORK.OL Expiry: Each Month Bloomberg : ORK NO Open Int (avg): 6 799 Liquidity: Tradable for volumes around 3000 OBX Weight : 5.75% O/I avg. ytd: 6 760 Derivatives : Options & Fwd/Fut Market Maker(s): 5
Petroleum Geo-Services (PGS) PETROLEUM GEO-SERVICES is a technologically focused oilfield service company involved in providing geophysical services worldwide. Home: www.pgs.com Sector: Oil & Gas Equipment & Services 10101020 Last (NOK): 47.96 ISIN : NO 001 019 9151 Avg.Imp.Vol last month: 48 % Reuters : PGS.OL Expiry: Mar, Jun, Sep, Dec Bloomberg : PGS NO Open Int (avg): 18 749 Liquidity: Tradable for volumes around 2000 OBX Weight : 1.18% O/I avg. ytd: 15 323 Derivatives : Options & Fwd/Fut Market Maker(s): 5 Royal Caribbean Cruises (RCL) ROYAL CARIBBEAN CRUISES is a global cruise Sector: Hotels, Resorts & Cruise Lines vacation company that operates Royal 25301020 Last (NOK): 598.00 Caribbean International, Celebrity Cruises, Pullmantur, Azamara Cruises and CDF ISIN : LR 000 886 2868 Avg.Imp.Vol last month: 32 % Croisières de France. The company has a Reuters : RCL.OL Expiry: Mar, Jun, Sep, Dec combined total of 38 ships in service and five under construction. Bloomberg : RCL NO Open Int (avg): 2 059 Home: www.rclinvestor.com Liquidity: Tradable in blocks of 1000 OBX Weight : 4.31% O/I avg. ytd: 2 838 Domicile: Liberia contracts. Derivatives : Options & Fwd/Fut Market Maker(s): 3 REC Silicon (REC) REC SILICON is a leading producer of advanced silicon materials, delivering highpurity polysilicon and silane gas to the solar and electronics industries worldwide. Home: www.recsilicon.com Sector: Semiconductor Equipment 45301010 Last (NOK): 1.62 ISIN : NO 001 011 2675 Avg.Imp.Vol last month: 76 % Reuters : REC.OL Expiry: Each Month Bloomberg : REC NO Open Int (avg): 55 006 Liquidity: Tradable in blocks of 4000-5000 OBX Weight : 0.36% O/I avg. ytd: 51 997 Derivatives : Options & Fwd/Fut Market Maker(s): 3
Seadrill (SDRL) SEADRILL is an international drilling Sector: Oil and Gas Drilling 10101010 Last (NOK): 93.00 contractor providing services within drilling and well services. Seadrill has 7 000 ISIN: BMG 7945E 1057 Avg.Imp.Vol last month: 59 % employees, representing 25 nationalities on Reuters : SDRL.OL Expiry: Mar, Jun, Sep, Dec five continents. Home: www.seadrill.com Bloomberg : SDRL NO Open Int (avg): 8 769 Liquidity: Tradable for volumes around 2000 OBX Weight : 2.26% O/I avg. ytd: 9 788 Domicile: Bermuda contracts. Derivatives : Options & Fwd/Fut Market Maker(s): 6 Storebrand (STB) STOREBRAND is a leading player in the Sector: Life & Health Insurance markets for long-term savings and 40301020 Last (NOK): 27.00 insurance. The group consists of the ISIN : NO 000 305 3605 Avg.Imp.Vol last month: 33 % following business areas: life insurance, asset management, banking and non-life Reuters : STB.OL Expiry: Mar, Jun, Sep, Dec insurance. Bloomberg : STB NO Open Int (avg): 59 250 Home: www.storebrand.com Liquidity: Tradable in blocks of 5000 OBX Weight : 1.45% O/I avg. ytd: 93 677 Derivatives : Options & Fwd/Fut Market Maker(s): 5 Statoil (STL) STATOIL is the leading producer of petroleum on the NCS and has substantial Sector: Integrated Oil & Gas 10102010 Last (NOK): 143.70 production outside of Norway. Statoil is the ISIN : NO 001 009 6985 Avg.Imp.Vol last month: 26 % world's largest operator of offshore Reuters : STL.OL Expiry: Each month petroleum production with activities in 32 countries and approximately 30 000 Bloomberg : SYO NO and STO US Open Int (avg): 98 804 employees. Liquidity: Tradable in blocks of 5000 OBX Weight : 18.80% O/I avg. ytd: 112 145 Derivatives : Options & Fwd/Fut Market Maker(s): 8
Subsea 7 (SUBC) Subsea 7 S.A. is a seabed-to-surface engineering, construction and services contractor to the offshore energy industry worldwide. Home: www.subsea7.com Sector: Oil & Gas Equipment & Services 10101020 Last (NOK): 81.05 ISIN: LU 007 564 6355 Avg.Imp.Vol last month: 43 % Reuters: SUBC.OL Expiry: Mar, Jun, Sep, Dec Bloomberg: SUBC NO Open Int (avg): 15 770 Liquidity: Tradable in blocks of 2000 OBX Weight: 2.49% O/I avg. ytd: 26 035 Domicile: Luxembourg contracts. Derivatives: Options & Fwd/Fut Market Maker(s): 6 Telenor (TEL) TELENOR Group is a leading international provider of communications services and one of the largest mobile operators worldwide. Home: www.telenor.com Sector: Integrated Telecom. Services 50101020 Last (NOK): 175.60 ISIN : NO 001 006 3308 Avg.Imp.Vol last month: 20 % Reuters : TEL.NO Expiry: Each Month Bloomberg : TEL NO and TELN US Open Int (avg): 12 480 Liquidity: Traded in volumes of 3000 OBX Weight : 15.33% O/I avg. ytd: 14 348 Derivatives : Options & Fwd/Fut Market Maker(s): 7 TGS-Nopec (TGS) TGS-NOPEC provides multi-client geoscience data and services to oil and gas Exploration and Production companies around the globe. TGS also provides highend depth imaging services to help resolve complex seismic imaging problems. Home: www.tgs.com Sector: Oil & Gas Equipment & Services 10101020 Last (NOK): 193.80 ISIN : NO 000 307 8800 Avg.Imp.Vol last month: 36 % Reuters : TGS.OL Expiry: Mar, Jun, Sep, Dec Bloomberg : TGS NO Open Int (avg): 7 490 Liquidity: Tradable for volumes around 1000 OBX Weight : 2.31% O/I avg. ytd: 9 004 Derivatives : Options & Fwd/Fut Market Maker(s): 2
Yara (YAR) YARA International ASA delivers solutions for sustainable agriculture and the environment. Founded in Norway in 1905, Yara has a worldwide presence with sales to 150 countries. Home: www.yara.com Sector: Fertilizers & Agricultural Chemicals 15101030 Last (NOK): 387.90 ISIN : NO 001 020 8051 Avg.Imp.Vol last month: 26 % Reuters : YAR.OL Expiry: Each Month Bloomberg : YAR NO Open Int (avg): 19 729 Liquidity: Traded in blocks of around 2000 OBX Weight : 8.16% O/I avg. ytd: 21 039 Derivatives : Options & Fwd/Fut Market Maker(s): 6
MARKET MAKERS DNB Markets: Danske Bank Markets: Enskilda Securities: Handelsbanken: Nordea Markets: Sparebank 1 Markets: Susquehanna Intl. Sec. Ltd: Timber Hill Europe: OBX, OBOSX, AKSO, DNO, GJF, MHG, NAS, NHY, NSG, OPERA, ORK, PGS, REC, RCL, SDRL, STB, STL, SUBC, TEL, TGS, YAR OBX, OBOSX, AKSO, DNB, NAS, PGS, SDRL, STL, TEL, SUBC, YAR OBX, DNB, NHY, ORK, STL, TEL, YAR OBX, DNB, NHY, PGS, RCL, SDRL, STB, STL, SUBC, YAR OBX, DNB, GJF, NHY, STB, STL, TEL OBX, DNB, MHG, NHY, ORK, SDRL, STL, SUBC, TEL OBX, AKSO, DNB, DNO, GJF, MHG, NHY, NSG, ORK, PGS, REC, SDRL, STB, STL, SUBC, TEL, TGS, YAR OBX, DNB, MHG, NHY, ORK, PGS, REC, RCL, SDRL, STB, STL, SUBC, TEL, YAR
OPTIONS - ATM IMPLIED VOLATILITIES Daily Volatilities = average of Last Bid+Offer vol. for ATM CALLS and PUTS for the nearest two months. Lack of data may occur, thus volatilities should be seen as indicative. 90% 80% 20% 10% OBX ATM Implied Vol AKSO ATM Implied Vol 20% 1 DNB ATM Implied Vol 110% 90% 10%
80% 75% 65% 55% 45% DNO ATM Implied Vol GJF ATM Implied Vol 25% 20% 15% 10% 1 1 110% 90% 10% MHG ATM Implied Vol
100% 90% 80% 20% 10% NHY ATM Implied Vol 100% 90% 80% 20% NAS ATM Implied Vol 1 1 120% 110% 100% 90% 80% NSG ATM Implied Vol
80% ORK ATM Implied Vol 20% 10% 90% OPERA ATM Implied Vol 80% 80% PGS ATM Implied Vol 20%
1 1 120% 110% 100% 90% 80% REC ATM Implied Vol 80% RCL ATM Implied Vol 20% SDRL ATM Implied Vol 110% 90% 10%
90% 80% 20% 10% STL ATM Implied Vol 1 SUBC ATM Implied Vol 110% 90% 10% 1 STB ATM Implied Vol 120% 100% 80% 20%
55% 45% 35% 25% 20% TGS ATM Implied Vol 90% 80% 20% 10% TEL ATM Implied Vol 100% 90% 80% 20% 10% YAR ATM Implied Vol Disclaimer: All information in this presentation is obtained from documents already available to the public. Oslo Børs does not guarantee the accuracy of the information included in the presentation. This report will not be updated if any changes occur due to cancellations. The presentation does not in any way constitute a recommendation by Oslo Børs.