Crude oil options liquidity

#1

Is crude oil options contract really liquid enough? I saw that OI has crossed 1 million barrels but I see I could only see few 100 open interest in my trading terminal. Any reasons?

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#2

The ATM contracts are reasonably liquid, however, as the contract turns ITM or OTM, liquidity dries. However, you can enter or exit the contract at a small impact cost.

Each lot of Crude Oil is 100 Barrels. That would mean an OI of 10k to reach 1 million milestone.
If you combine the outstanding OI of all strikes for all months for Crude, it would be more than 10k.

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