Copper – and Traders' Blazers – Are Risk-On, Risk-Off Assets

The copper market and copper prices have certainly been pretty iffy lately, but not all is lost.

As my colleague Stuart wrote not too long ago, “as a result of the surprisingly solid demand, limited supply growth and the widespread hope that Europe will avoid a breakup this year, copper prices are not expected to fall further…this [suggests] buyers can make the most of the depressed sentiment to secure good short-term deals, as covering forward with fixed prices does not look like it will be a necessary safeguard for the next 6-12 months.”

However, one thing may as well be lost: independent options trader Eric Zuccarelli’s blazer, as seen in the Bloomberg video below:

Zuccarelli’s jacket is not the only upbeat part of the video — note his decidedly Kevin Youkilisian nickname on his badge: Zuke.

You’re welcome.

Maybe all these things are why your typical mid-market metal buyer is generally afraid of words like “options.” Happy Friday, everyone!

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