Website charts:  https://www.mrci.com/client/options

     MRCI's Implied Volatility Data as of Tuesday October 14, 2025      
/==================================================================================\
|           Contract           |  IV   |  HV   | +1SD  | CTHV  | -1SD  |IV+-% |D2EX|
|==============================|=======|=======|=======|=======|=======|======|====|
|Dec25 Japanese Yen(CME)       |  68.63|  11.18|   9.79|   7.12|   4.45| +864%|  52|
|Mar26 Class III Milk(CME)     |  20.03|   6.04|  11.19|   8.45|   5.72| +136%| 168|
|Mar26 Natural Gas(NYM)        |  58.21|  25.99|  42.40|  27.76|  13.12| +109%| 133|
|Feb26 Class III Milk(CME)     |  20.41|  10.04|  12.81|   9.78|   6.75| +108%| 140|
|Feb26 Natural Gas(NYM)        |  62.04|  27.03|  45.72|  30.09|  14.46| +106%| 105|
|Jan26 Natural Gas(NYM)        |  59.01|  27.54|  46.63|  31.18|  15.73|  +89%|  73|
|Jul26 Cocoa(ICE)              |  38.95|  30.92|  28.83|  22.55|  16.27|  +72%| 234|
|Mar26 London Cocoa(LCE)       |  35.60|  30.07|  27.14|  20.66|  14.19|  +72%| 136|
|Dec25 Natural Gas(NYM)        |  57.32|  32.33|  49.43|  34.09|  18.74|  +68%|  42|
|May26 Cocoa(ICE)              |  39.74|  32.05|  30.89|  23.72|  16.55|  +67%| 171|
|Jan26 Class III Milk(CME)     |  20.45|  15.36|  16.90|  12.36|   7.82|  +65%| 112|
|Mar26 Cocoa(ICE)              |  39.76|  33.48|  33.09|  24.96|  16.83|  +59%| 115|
|Mar26 Orange Juice(ICE)       |  45.60|  44.16|  35.57|  28.70|  21.83|  +58%| 115|
|Dec25 London Cocoa(LCE)       |  36.77|  32.81|  30.36|  23.47|  16.59|  +56%|  45|
|Jan26 Orange Juice(ICE)       |  46.69|  47.01|  36.38|  29.94|  23.50|  +55%|  52|
|May26 Feeder Cattle(CME)      |  19.64|  20.18|  18.39|  13.30|   8.22|  +47%| 226|
|Jun26 Live Cattle(CME)        |  16.12|  13.64|  15.91|  11.17|   6.43|  +44%| 234|
|Dec25 Copper(CMX)             |  33.54|  34.40|  35.15|  23.15|  11.14|  +44%|  42|
|Nov25 Natural Gas(NYM)        |  61.52|  46.08|  60.02|  42.44|  24.85|  +44%|  14|
|Apr26 Live Cattle(CME)        |  15.90|  13.25|  15.94|  11.15|   6.36|  +42%| 171|
|Apr26 Feeder Cattle(CME)      |  19.43|  20.29|  18.59|  13.66|   8.73|  +42%| 198|
|May26 Orange Juice(ICE)       |  38.91|  41.99|  34.49|  27.36|  20.24|  +42%| 171|
|Dec25 2 Year T-Notes(CBOT)    |   1.39|   1.01|   1.77|   0.99|   0.21|  +40%|  38|
|May26 Coffee "C"(ICE)         |  42.36|  52.62|  38.23|  30.81|  23.39|  +37%| 178|
|Mar26 Feeder Cattle(CME)      |  19.28|  20.36|  19.25|  14.28|   9.31|  +35%| 163|
|Mar26 Coffee "C"(ICE)         |  42.77|  52.43|  39.00|  31.54|  24.09|  +35%| 121|
|Jul26 Coffee "C"(ICE)         |  40.87|  52.85|  37.47|  30.13|  22.78|  +35%| 241|
|Dec25 Cocoa(ICE)              |  36.68|  35.54|  36.77|  26.98|  17.19|  +35%|  24|
|Dec25 Coffee "C"(ICE)         |  43.65|  54.18|  40.21|  32.71|  25.22|  +33%|  29|
|Mar26 Copper(CMX)             |  29.78|  33.47|  34.62|  22.72|  10.82|  +31%| 132|
|Feb26 Live Cattle(CME)        |  15.62|  13.16|  17.12|  12.31|   7.51|  +26%| 115|
|Jan26 Feeder Cattle(CME)      |  18.85|  19.98|  20.13|  15.01|   9.88|  +25%| 107|
|Dec25 Silver(CMX)             |  42.17|  40.44|  59.82|  36.02|  12.22|  +17%|  42|
|Mar26 NY Harbor ULSD(NYM)     |  30.50|  23.08|  34.65|  26.19|  17.74|  +16%| 133|
|May26 Soybean Oil(CBOT)       |  26.35|  18.16|  28.03|  22.91|  17.79|  +15%| 192|
|Jan26 NY Harbor ULSD(NYM)     |  31.45|  25.06|  36.70|  27.40|  18.09|  +14%|  73|
|Feb26 NY Harbor ULSD(NYM)     |  30.52|  24.06|  35.58|  26.75|  17.92|  +14%| 105|
|Dec25 Class III Milk(CME)     |  20.22|  23.70|  24.59|  17.72|  10.84|  +14%|  77|
|Dec25 5-Year T-Notes(CBOT)    |   3.50|   2.49|   4.88|   3.11|   1.35|  +12%|  38|
|Dec25 NY Harbor ULSD(NYM)     |  31.64|  26.21|  38.24|  28.22|  18.20|  +12%|  42|
|Mar26 Soybean Oil(CBOT)       |  26.10|  18.72|  28.73|  23.46|  18.18|  +11%| 129|
|Nov25 Crude Oil(NYM)          |  37.32|  29.39|  44.28|  33.65|  23.03|  +10%|   2|
|Dec25 Live Cattle(CME)        |  14.84|  12.71|  19.25|  14.05|   8.85|   +5%|  52|
|Mar26 Crude Oil(NYM)          |  31.96|  25.54|  40.28|  30.37|  20.46|   +5%| 126|
|Nov25 Feeder Cattle(CME)      |  16.49|  19.18|  20.83|  15.75|  10.66|   +4%|  37|
|Mar26 Brent Crude Oil(ICE)    |  29.59|  24.42|  36.32|  28.40|  20.48|   +4%| 104|
|Nov25 RBOB Gasoline(NYM)      |  33.38|  25.14|  40.54|  32.27|  23.99|   +3%|  14|
|Jan26 RBOB Gasoline(NYM)      |  30.81|  24.69|  37.19|  29.86|  22.53|   +3%|  73|
|Jan26 Soybean Oil(CBOT)       |  24.69|  19.41|  29.62|  24.06|  18.50|   +2%|  73|
|Dec25 S & P 500 E-Mini(CME)   |  15.87|  13.08|  22.96|  15.51|   8.06|   +2%|  66|
|Feb26 Crude Oil(NYM)          |  32.03|  26.52|  41.28|  31.15|  21.03|   +2%|  93|
|Feb26 Brent Crude Oil(ICE)    |  29.84|  25.24|  37.19|  29.04|  20.89|   +2%|  71|
|Dec25 10-Year T-Notes(CBOT)   |   5.19|   3.76|   7.62|   5.10|   2.57|   +1%|  38|
|Jan26 Crude Oil(NYM)          |  32.27|  27.47|  42.30|  31.95|  21.60|   +1%|  63|
|Nov25 NY Harbor ULSD(NYM)     |  30.01|  27.78|  40.84|  29.43|  18.03|   +1%|  14|
|Apr26 Lean Hogs(CME)          |  19.66|  16.64|  25.87|  19.56|  13.25|   +0%| 182|
|Mar26 Silver(CMX)             |  35.61|  40.24|  59.67|  35.91|  12.15|   +0%| 132|
|Dec25 Crude Oil(NYM)          |  32.52|  28.42|  43.29|  32.78|  22.27|   +0%|  34|
|Jan26 Brent Crude Oil(ICE)    |  29.65|  26.17|  38.14|  29.70|  21.26|   +0%|  41|
|Dec25 RBOB Gasoline(NYM)      |  30.88|  24.90|  38.34|  30.67|  23.00|   +0%|  42|
|Dec25 Soybean Oil(CBOT)       |  24.38|  19.72|  30.56|  24.67|  18.78|   -1%|  38|
|Dec25 30-Year T-Bonds(CBOT)   |   9.94|   7.07|  14.67|  10.22|   5.77|   -2%|  38|
|Feb26 RBOB Gasoline(NYM)      |  28.35|  24.18|  36.35|  29.19|  22.04|   -2%| 105|
|Mar26 RBOB Gasoline(NYM)      |  27.96|  23.47|  35.59|  28.53|  21.48|   -2%| 133|
|Dec25 Brent Crude Oil(ICE)    |  29.11|  26.94|  39.12|  30.35|  21.58|   -4%|  13|
|Dec25 NASDAQ 100 E-Mini(CME)  |  20.53|  54.89|  40.15|  22.76|   5.37|   -9%|  66|
|Dec25 EuroFX(CME)             |   6.76|   6.46|  10.86|   7.63|   4.41|  -11%|  52|
|Dec25 Australian Dollar(CME)  |   9.33|   7.10|  16.00|  10.53|   5.07|  -11%|  52|
|Dec25 London Sugar(LCE)       |  20.15|  22.79|  29.12|  22.74|  16.37|  -11%|  18|
|May26 Wheat(KCBT)             |  22.73|  15.38|  34.94|  25.97|  17.00|  -12%| 192|
|Mar26 London Sugar(LCE)       |  19.34|  21.60|  29.15|  22.06|  14.98|  -12%| 110|
|Oct25 Feeder Cattle(CME)      |  12.65|  17.26|  19.35|  14.60|   9.86|  -13%|  16|
|May26 Wheat(CBOT)             |  22.42|  16.29|  35.88|  25.99|  16.11|  -13%| 192|
|Dec25 US Dollar Index(ICE)    |   5.91|   6.40|   9.56|   6.81|   4.06|  -13%|  52|
|May26 Soybean Meal(CBOT)      |  17.14|   8.54|  28.05|  21.23|  14.40|  -19%| 192|
|May26 Sugar #11(ICE)          |  20.88|  23.18|  34.10|  26.00|  17.91|  -19%| 183|
|Feb26 Lean Hogs(CME)          |  19.34|  20.46|  33.04|  24.77|  16.50|  -21%| 122|
|Dec25 British Pound(CME)      |   7.39|   7.03|  13.74|   9.43|   5.12|  -21%|  52|
|May26 Soybeans(CBOT)          |  14.71|  10.73|  25.54|  19.08|  12.62|  -22%| 192|
|Mar26 Wheat(KCBT)             |  21.09|  16.24|  36.33|  27.06|  17.80|  -22%| 129|
|Mar26 Wheat(CBOT)             |  20.95|  17.30|  38.47|  27.64|  16.82|  -24%| 129|
|Mar26 Soybean Meal(CBOT)      |  16.68|   9.52|  29.09|  22.24|  15.40|  -25%| 129|
|Dec25 New Zealand Dollar(CME) |   8.59|   8.27|  16.61|  11.49|   6.38|  -25%|  52|
|Mar26 Sugar #11(ICE)          |  21.35|  24.76|  37.41|  28.61|  19.81|  -25%| 125|
|Mar26 Soybeans(CBOT)          |  14.35|  11.08|  26.45|  19.95|  13.46|  -28%| 129|
|May26 Corn(CBOT)              |  16.10|  10.58|  33.33|  23.18|  13.03|  -30%| 192|
|Dec25 Wheat(KCBT)             |  19.60|  17.47|  37.37|  28.02|  18.66|  -30%|  38|
|Dec25 Cotton(ICE)             |  16.77|  10.72|  35.57|  24.25|  12.94|  -30%|  24|
|May26 Cotton(ICE)             |  15.24|   9.59|  33.26|  22.03|  10.79|  -30%| 178|
|Nov25 Class III Milk(CME)     |  14.44|  28.78|  29.91|  20.95|  11.99|  -31%|  49|
|Jan26 Soybean Meal(CBOT)      |  15.03|  11.05|  29.44|  23.02|  16.60|  -34%|  73|
|Mar26 Cotton(ICE)             |  15.01|  10.02|  34.56|  23.09|  11.62|  -34%| 122|
|Jan26 Soybeans(CBOT)          |  13.22|  11.77|  26.83|  20.59|  14.36|  -35%|  73|
|Dec25 Soybean Meal(CBOT)      |  15.29|  11.99|  30.25|  23.76|  17.28|  -35%|  38|
|Mar26 Corn(CBOT)              |  15.40|  11.59|  34.14|  23.90|  13.65|  -35%| 129|
|Dec25 Wheat(CBOT)             |  19.14|  18.62|  41.53|  29.61|  17.69|  -35%|  38|
|Dec25 Corn(CBOT)              |  15.47|  12.40|  35.30|  24.86|  14.42|  -37%|  38|
|Dec25 Lean Hogs(CME)          |  17.89|  23.97|  40.91|  30.80|  20.69|  -41%|  59|
|Dec25 Canadian Dollar(CME)    |   4.45|   3.60|  11.39|   7.66|   3.92|  -41%|  52|
|Oct25 Class III Milk(CME)     |   4.66|  22.89|  23.91|  16.10|   8.29|  -71%|  21|
\==================================================================================/

Implied Volatility Description (IV)
  Current daily level of Implied Volatility (IV) for options on this futures
  contract, as derived from (implied by) options premiums (Black Model).

Historical Volatility Description (HV)
  Current daily level of 20-day Historical Volatility (HV) for this futures
  contract, as calculated from futures price movement.

Central Tendency Description (CTHV)
  Current daily level of the Central Tendency of Historical Volatility (CTHV),
  the 15-year average of 20-day historical volatility (of futures prices).  Thus, 
  CTHV is the historical reference against which to compare IV and HV.  CTHV is
  also used to calculate +1 and -1 STD (Standard Deviation), between which HV has
  theoretically been found 67% of the time.

Implied Volatility Over/Under Percentage Description (IV+-%)
  The percentage the current Implied Volatility (IV) is above or below the Central
  Tendency (CTHV).

Days to Expiration Description (D2Ex)
  Conveniently enumerates how many days until options on that futures contract expires.

If you have any questions, please just let us know.

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The MRCI Team
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