Website charts: https://www.mrci.com/client/options MRCI's Implied Volatility Data as of Friday December 12, 2025 /==================================================================================\ | Contract | IV | HV | +1SD | CTHV | -1SD |IV+-% |D2EX| |==============================|=======|=======|=======|=======|=======|======|====| |Mar26 Japanese Yen(CME) | 73.07| 7.14| 11.96| 8.82| 5.67| +728%| 84| |May26 Class III Milk(CME) | 19.66| 11.55| 11.38| 8.59| 5.80| +128%| 172| |Mar26 Orange Juice(ICE) | 56.57| 63.32| 31.88| 25.38| 18.87| +122%| 56| |May26 Orange Juice(ICE) | 48.03| 60.84| 30.29| 23.88| 17.47| +101%| 112| |Apr26 Class III Milk(CME) | 19.46| 11.88| 13.05| 9.92| 6.79| +96%| 137| |Jul26 Orange Juice(ICE) | 41.71| 57.85| 28.89| 22.61| 16.33| +84%| 175| |Mar26 London Cocoa(LCE) | 41.87| 42.18| 31.59| 22.78| 13.96| +83%| 77| |Mar26 Cocoa(ICE) | 46.63| 49.65| 35.68| 26.59| 17.49| +75%| 56| |May26 Cocoa(ICE) | 43.59| 46.07| 35.00| 25.58| 16.15| +70%| 112| |May26 London Cocoa(LCE) | 36.59| 40.04| 30.77| 21.52| 12.26| +70%| 139| |Aug26 Live Cattle(CME) | 18.21| 23.29| 14.88| 10.75| 6.61| +69%| 238| |Aug26 Feeder Cattle(CME) | 21.28| 24.76| 18.51| 12.59| 6.67| +69%| 258| |Jul26 London Cocoa(LCE) | 33.69| 38.84| 29.85| 20.41| 10.96| +65%| 200| |Jun26 Live Cattle(CME) | 18.44| 23.35| 15.87| 11.34| 6.81| +62%| 175| |Jul26 Cocoa(ICE) | 39.80| 43.03| 33.94| 24.60| 15.25| +61%| 175| |Sep26 Cocoa(ICE) | 38.03| 41.11| 33.13| 23.76| 14.39| +60%| 238| |May26 Feeder Cattle(CME) | 21.12| 24.75| 19.42| 13.54| 7.66| +55%| 167| |May26 Natural Gas(NYM) | 50.86| 42.66| 43.87| 33.60| 23.33| +51%| 136| |Apr26 Live Cattle(CME) | 18.17| 22.96| 17.13| 12.04| 6.96| +50%| 112| |Apr26 Feeder Cattle(CME) | 20.76| 24.95| 19.80| 13.85| 7.89| +49%| 139| |Mar26 Class III Milk(CME) | 19.01| 13.78| 16.53| 12.74| 8.94| +49%| 109| |Jun26 Natural Gas(NYM) | 47.03| 38.30| 41.34| 31.75| 22.16| +48%| 165| |Apr26 Natural Gas(NYM) | 53.89| 46.34| 47.44| 37.04| 26.64| +45%| 104| |Mar26 Silver(CMX) | 41.39| 46.83| 39.72| 28.84| 17.95| +43%| 73| |Mar26 Feeder Cattle(CME) | 20.57| 25.25| 20.29| 14.49| 8.68| +41%| 104| |Aug26 Lean Hogs(CME) | 19.53| 14.37| 18.41| 13.79| 9.18| +41%| 245| |May26 Silver(CMX) | 39.72| 46.81| 39.65| 28.76| 17.88| +38%| 136| |Jul26 Lean Hogs(CME) | 20.11| 15.92| 19.63| 14.85| 10.07| +35%| 214| |Sep26 Corn(CBOT) | 19.93| 11.56| 22.32| 14.92| 7.52| +33%| 252| |Feb26 Live Cattle(CME) | 17.86| 22.98| 18.93| 13.54| 8.14| +31%| 56| |Mar26 2 Year T-Notes(CBOT) | 1.40| 0.93| 1.83| 1.07| 0.30| +30%| 70| |May26 Copper(CMX) | 26.61| 23.62| 26.10| 20.41| 14.72| +30%| 136| |Mar26 Copper(CMX) | 26.21| 24.11| 26.38| 20.70| 15.02| +26%| 73| |Jun26 Lean Hogs(CME) | 20.70| 17.80| 21.37| 16.49| 11.60| +25%| 182| |Jan26 Feeder Cattle(CME) | 18.76| 25.30| 20.98| 15.27| 9.56| +22%| 48| |Sep26 Wheat(CBOT) | 24.92| 16.82| 26.72| 20.54| 14.37| +21%| 252| |May26 Lean Hogs(CME) | 21.41| 20.29| 23.89| 17.80| 11.72| +20%| 153| |Feb26 Natural Gas(NYM) | 68.52| 63.64| 84.03| 57.18| 30.33| +19%| 46| |Sep26 Wheat(KCBT) | 25.21| 16.48| 27.92| 21.44| 14.96| +17%| 252| |Jan26 Natural Gas(NYM) | 67.49| 67.07| 85.03| 59.01| 33.00| +14%| 14| |Feb26 Class III Milk(CME) | 18.61| 16.25| 20.16| 16.26| 12.35| +14%| 81| |Jul26 Wheat(CBOT) | 24.28| 17.42| 27.94| 21.64| 15.34| +12%| 196| |Mar26 Natural Gas(NYM) | 61.05| 56.99| 82.75| 54.22| 25.70| +12%| 74| |Sep26 Soybean Oil(CBOT) | 23.53| 16.50| 27.76| 21.38| 15.00| +10%| 252| |Jul26 Wheat(KCBT) | 24.64| 16.91| 28.63| 22.32| 16.01| +10%| 196| |Mar26 S & P 500 E-Mini(CME) | 14.67| 12.05| 19.36| 13.24| 7.12| +10%| 98| |Sep26 Coffee "C"(ICE) | 34.95| 27.24| 38.30| 32.05| 25.81| +9%| 245| |Jul26 Corn(CBOT) | 18.20| 14.80| 24.14| 16.80| 9.47| +8%| 196| |Aug26 Soybean Oil(CBOT) | 23.76| 16.60| 28.67| 22.03| 15.39| +7%| 224| |Jul26 Coffee "C"(ICE) | 35.24| 27.74| 39.38| 32.87| 26.37| +7%| 182| |Jul26 Soybean Oil(CBOT) | 24.07| 16.84| 29.84| 22.84| 15.84| +5%| 196| |May26 Coffee "C"(ICE) | 35.49| 27.76| 40.41| 33.75| 27.09| +5%| 119| |May26 Soybean Oil(CBOT) | 24.70| 17.40| 31.12| 23.71| 16.29| +4%| 133| |Aug26 London Sugar(LCE) | 19.53| 16.08| 26.91| 18.93| 10.94| +3%| 201| |Mar26 Soybean Oil(CBOT) | 25.25| 18.08| 32.47| 24.61| 16.76| +2%| 70| |Sep26 Soybean Meal(CBOT) | 17.43| 11.62| 22.76| 16.94| 11.13| +2%| 252| |Mar26 5-Year T-Notes(CBOT) | 3.17| 2.40| 4.78| 3.14| 1.50| +1%| 70| |Apr26 Lean Hogs(CME) | 22.12| 22.06| 29.53| 22.30| 15.06| +0%| 123| |Sep26 Soybeans(CBOT) | 14.51| 10.41| 20.51| 14.59| 8.66| +0%| 252| |May26 Wheat(KCBT) | 23.39| 17.61| 29.94| 23.51| 17.08| +0%| 133| |Mar26 NASDAQ 100 E-Mini(CME) | 20.19| 50.18| 36.58| 20.27| 3.96| +0%| 98| |Jan26 NY Harbor ULSD(NYM) | 32.35| 35.52| 46.26| 32.41| 18.56| +0%| 14| |Mar26 NY Harbor ULSD(NYM) | 30.46| 28.20| 43.65| 30.68| 17.70| +0%| 74| |Apr26 NY Harbor ULSD(NYM) | 30.15| 24.99| 42.69| 29.92| 17.16| +0%| 104| |May26 NY Harbor ULSD(NYM) | 29.35| 22.21| 41.63| 29.07| 16.52| +0%| 136| |May26 RBOB Gasoline(NYM) | 29.38| 17.24| 41.59| 29.23| 16.87| +0%| 136| |Mar26 Coffee "C"(ICE) | 34.58| 26.71| 41.70| 34.76| 27.83| +0%| 62| |Aug26 Soybean Meal(CBOT) | 17.59| 12.55| 23.79| 17.78| 11.77| -1%| 224| |Mar26 New Zealand Dollar(CME) | 10.21| 8.28| 13.33| 10.35| 7.38| -1%| 84| |May26 Wheat(CBOT) | 22.67| 17.79| 30.01| 23.15| 16.29| -2%| 133| |Feb26 NY Harbor ULSD(NYM) | 30.76| 31.52| 44.93| 31.57| 18.21| -2%| 46| |May26 London Sugar(LCE) | 19.76| 17.65| 28.23| 20.35| 12.48| -2%| 110| |Jun26 Crude Oil(NYM) | 30.82| 18.58| 47.23| 32.02| 16.81| -3%| 154| |Apr26 RBOB Gasoline(NYM) | 28.74| 17.97| 42.61| 29.93| 17.25| -3%| 104| |Jul26 Soybean Meal(CBOT) | 17.59| 13.78| 24.78| 18.61| 12.44| -5%| 196| |Aug26 Soybeans(CBOT) | 14.58| 12.54| 21.30| 15.54| 9.78| -6%| 224| |Mar26 30-Year T-Bonds(CBOT) | 9.46| 6.84| 13.54| 10.12| 6.70| -6%| 70| |May26 Crude Oil(NYM) | 30.80| 19.11| 48.18| 32.87| 17.55| -6%| 125| |Jul26 Sugar #11(ICE) | 21.33| 19.56| 34.90| 22.86| 10.83| -6%| 185| |May26 Corn(CBOT) | 16.22| 16.34| 24.80| 17.48| 10.16| -7%| 133| |May26 Brent Crude Oil(ICE) | 28.10| 17.52| 43.49| 30.25| 17.00| -7%| 103| |Dec25 S & P 500 E-Mini(CME) | 12.09| 12.08| 19.26| 13.18| 7.10| -8%| 7| |Mar26 10-Year T-Notes(CBOT) | 4.67| 3.50| 7.31| 5.08| 2.85| -8%| 70| |Apr26 Crude Oil(NYM) | 30.49| 19.67| 49.19| 33.76| 18.33| -9%| 95| |Mar26 Soybean Meal(CBOT) | 18.16| 16.88| 26.94| 20.39| 13.83| -10%| 70| |Mar26 RBOB Gasoline(NYM) | 30.40| 21.55| 48.24| 34.01| 19.78| -10%| 74| |Mar26 London Sugar(LCE) | 19.34| 19.83| 29.43| 21.59| 13.74| -10%| 51| |May26 Soybean Meal(CBOT) | 17.18| 15.35| 25.71| 19.40| 13.09| -11%| 133| |Dec25 NASDAQ 100 E-Mini(CME) | 17.55| 51.22| 36.61| 19.93| 3.25| -11%| 7| |Apr26 Brent Crude Oil(ICE) | 27.31| 17.95| 44.37| 30.96| 17.54| -11%| 73| |Jul26 Soybeans(CBOT) | 14.18| 13.82| 22.12| 16.22| 10.31| -12%| 196| |Mar26 Wheat(KCBT) | 21.02| 18.42| 30.71| 24.22| 17.73| -13%| 70| |May26 Sugar #11(ICE) | 21.40| 21.09| 35.82| 24.66| 13.51| -13%| 124| |Mar26 Corn(CBOT) | 15.50| 17.54| 25.48| 18.13| 10.78| -14%| 70| |Mar26 Wheat(CBOT) | 20.88| 18.36| 31.60| 24.32| 17.03| -14%| 70| |Mar26 Crude Oil(NYM) | 29.45| 20.20| 50.21| 34.68| 19.14| -15%| 67| |Mar26 Brent Crude Oil(ICE) | 26.37| 18.46| 45.40| 31.76| 18.12| -16%| 45| |Mar26 US Dollar Index(ICE) | 5.50| 4.47| 9.13| 6.67| 4.20| -17%| 84| |Mar26 Australian Dollar(CME) | 8.40| 6.66| 13.74| 10.25| 6.75| -18%| 84| |Jan26 RBOB Gasoline(NYM) | 29.93| 23.62| 50.82| 36.59| 22.36| -18%| 14| |Mar26 Sugar #11(ICE) | 21.44| 21.76| 37.40| 26.59| 15.78| -19%| 66| |May26 Soybeans(CBOT) | 13.23| 14.44| 22.35| 16.56| 10.77| -20%| 133| |Mar26 British Pound(CME) | 6.03| 6.25| 10.01| 7.57| 5.13| -20%| 84| |Mar26 Soybeans(CBOT) | 13.42| 15.84| 22.96| 17.12| 11.29| -21%| 70| |Feb26 Crude Oil(NYM) | 27.87| 20.78| 51.35| 35.65| 19.96| -21%| 34| |Feb26 RBOB Gasoline(NYM) | 27.39| 22.73| 49.49| 35.13| 20.78| -22%| 46| |Feb26 Lean Hogs(CME) | 20.34| 20.86| 35.92| 26.64| 17.36| -23%| 63| |Jan26 Soybean Oil(CBOT) | 19.33| 18.58| 33.88| 25.46| 17.04| -24%| 14| |Jan26 Soybean Meal(CBOT) | 15.87| 18.18| 28.30| 21.49| 14.68| -26%| 14| |Jul26 Cotton(ICE) | 14.72| 5.43| 34.74| 20.72| 6.69| -28%| 175| |Feb26 Brent Crude Oil(ICE) | 23.31| 18.75| 46.37| 32.58| 18.79| -28%| 12| |Mar26 EuroFX(CME) | 5.57| 4.37| 11.04| 8.19| 5.34| -31%| 84| |Mar26 Canadian Dollar(CME) | 4.64| 5.03| 9.21| 6.95| 4.70| -33%| 84| |Jan26 Class III Milk(CME) | 13.44| 18.53| 25.26| 20.21| 15.16| -33%| 53| |Jan26 Crude Oil(NYM) | 22.81| 21.19| 52.59| 36.64| 20.70| -37%| 4| |May26 Cotton(ICE) | 13.64| 5.95| 35.23| 22.09| 8.96| -38%| 119| |Mar26 Cotton(ICE) | 11.24| 6.40| 35.10| 22.95| 10.81| -51%| 63| |Dec25 Class III Milk(CME) | 4.01| 16.04| 26.29| 18.16| 10.02| -77%| 18| \==================================================================================/ 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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