Website charts: https://www.mrci.com/client/options MRCI's Implied Volatility Data as of Friday September 12, 2025 /==================================================================================\ | Contract | IV | HV | +1SD | CTHV | -1SD |IV+-% |D2EX| |==============================|=======|=======|=======|=======|=======|======|====| |Dec25 Japanese Yen(CME) | 45.33| 7.77| 11.95| 8.88| 5.81| +410%| 84| |Jan26 Natural Gas(NYM) | 58.80| 19.48| 36.83| 26.16| 15.49| +124%| 105| |Jul26 Cocoa(ICE) | 44.97| 32.18| 26.96| 20.83| 14.70| +115%| 266| |May26 Cocoa(ICE) | 45.91| 33.44| 27.82| 21.40| 14.99| +114%| 203| |Mar26 Cocoa(ICE) | 45.93| 35.07| 29.78| 22.40| 15.02| +105%| 147| |Mar26 London Cocoa(LCE) | 35.08| 17.77| 23.19| 17.45| 11.72| +100%| 168| |Dec25 Natural Gas(NYM) | 52.92| 20.95| 38.57| 28.22| 17.86| +87%| 74| |Feb26 Class III Milk(CME) | 18.08| 7.89| 13.64| 9.73| 5.82| +85%| 172| |Dec25 London Cocoa(LCE) | 36.06| 19.71| 26.68| 19.49| 12.31| +84%| 77| |Dec25 Cocoa(ICE) | 44.21| 40.04| 33.45| 24.18| 14.90| +82%| 56| |May26 Feeder Cattle(CME) | 21.23| 18.50| 17.06| 12.41| 7.76| +71%| 258| |Nov25 Orange Juice(ICE) | 54.99| 53.10| 42.33| 33.06| 23.79| +66%| 21| |Apr26 Feeder Cattle(CME) | 20.99| 18.53| 17.42| 12.75| 8.08| +64%| 230| |Nov25 Natural Gas(NYM) | 52.53| 27.53| 42.22| 32.61| 22.99| +61%| 46| |Jan26 Class III Milk(CME) | 18.29| 8.42| 16.26| 11.32| 6.37| +61%| 144| |Apr26 Live Cattle(CME) | 17.07| 15.80| 14.78| 10.67| 6.56| +60%| 203| |Mar26 Feeder Cattle(CME) | 20.93| 18.69| 17.35| 13.19| 9.03| +58%| 195| |Jan26 Feeder Cattle(CME) | 20.74| 18.48| 18.13| 13.77| 9.42| +50%| 139| |Dec25 2 Year T-Notes(CBOT) | 1.50| 1.24| 1.61| 1.01| 0.40| +49%| 70| |Feb26 Live Cattle(CME) | 17.50| 15.83| 16.53| 11.88| 7.23| +47%| 147| |Jan26 Orange Juice(ICE) | 44.70| 51.21| 39.25| 30.58| 21.91| +46%| 84| |May26 Coffee "C"(ICE) | 40.34| 37.66| 35.03| 27.77| 20.51| +45%| 210| |Jul26 Coffee "C"(ICE) | 39.57| 36.33| 34.31| 27.21| 20.11| +45%| 273| |Mar26 Orange Juice(ICE) | 42.23| 49.87| 37.55| 29.07| 20.60| +45%| 147| |Mar26 Coffee "C"(ICE) | 41.05| 38.79| 35.87| 28.44| 21.00| +44%| 153| |Dec25 Coffee "C"(ICE) | 42.26| 39.45| 36.90| 29.42| 21.94| +43%| 61| |Nov25 Feeder Cattle(CME) | 20.54| 17.93| 19.27| 14.77| 10.26| +39%| 69| |Dec25 Live Cattle(CME) | 18.09| 15.94| 18.43| 13.36| 8.29| +35%| 84| |Oct25 Natural Gas(NYM) | 51.88| 35.56| 49.85| 38.27| 26.70| +35%| 13| |May26 Soybean Oil(CBOT) | 26.77| 26.19| 27.84| 20.86| 13.88| +28%| 224| |Mar26 Soybean Oil(CBOT) | 27.33| 27.31| 28.68| 21.44| 14.21| +27%| 161| |Dec25 Soybean Oil(CBOT) | 28.44| 28.86| 30.35| 22.42| 14.48| +26%| 70| |Jan26 Soybean Oil(CBOT) | 27.45| 28.43| 29.56| 21.96| 14.36| +25%| 105| |Oct25 Soybean Oil(CBOT) | 27.89| 29.45| 30.11| 22.38| 14.64| +24%| 14| |Oct25 Feeder Cattle(CME) | 18.87| 17.25| 19.92| 15.36| 10.81| +22%| 48| |Dec25 Class III Milk(CME) | 18.84| 12.07| 21.00| 15.46| 9.93| +21%| 109| |Oct25 NY Harbor ULSD(NYM) | 33.39| 26.78| 39.85| 27.87| 15.88| +19%| 13| |Jan26 NY Harbor ULSD(NYM) | 30.06| 23.19| 36.31| 25.21| 14.11| +19%| 105| |Nov25 NY Harbor ULSD(NYM) | 31.64| 25.63| 38.48| 26.90| 15.32| +17%| 46| |Dec25 NY Harbor ULSD(NYM) | 30.21| 24.21| 37.25| 25.96| 14.68| +16%| 74| |Oct25 Live Cattle(CME) | 16.60| 15.58| 19.78| 14.67| 9.57| +13%| 21| |Jan26 RBOB Gasoline(NYM) | 31.42| 21.93| 41.47| 28.19| 14.92| +11%| 105| |Mar26 London Sugar(LCE) | 20.51| 16.70| 22.84| 18.33| 13.82| +11%| 142| |Dec25 5-Year T-Notes(CBOT) | 3.27| 2.72| 4.10| 2.99| 1.89| +9%| 70| |Dec25 London Sugar(LCE) | 21.25| 17.89| 24.28| 19.55| 14.82| +8%| 50| |Dec25 RBOB Gasoline(NYM) | 30.85| 22.46| 42.22| 28.78| 15.34| +7%| 74| |Nov25 RBOB Gasoline(NYM) | 31.81| 23.35| 43.07| 29.80| 16.53| +6%| 46| |Feb26 Brent Crude Oil(ICE) | 28.42| 20.58| 41.39| 27.03| 12.67| +5%| 103| |Feb26 Crude Oil(NYM) | 30.49| 23.12| 43.71| 29.26| 14.81| +4%| 125| |Apr26 Lean Hogs(CME) | 19.47| 9.95| 25.01| 18.75| 12.49| +3%| 214| |Dec25 30-Year T-Bonds(CBOT) | 10.23| 9.13| 12.97| 9.96| 6.94| +2%| 70| |Dec25 10-Year T-Notes(CBOT) | 4.99| 4.24| 6.45| 4.86| 3.28| +2%| 70| |Mar26 Copper(CMX) | 21.06| 11.39| 26.70| 20.75| 14.80| +1%| 164| |Jan26 Crude Oil(NYM) | 30.26| 23.79| 44.50| 29.99| 15.48| +0%| 95| |Jan26 Brent Crude Oil(ICE) | 27.85| 21.15| 42.23| 27.65| 13.07| +0%| 73| |May26 Sugar #11(ICE) | 20.62| 13.59| 26.27| 20.71| 15.16| +0%| 215| |Dec25 Silver(CMX) | 28.22| 21.65| 38.91| 28.77| 18.62| -1%| 74| |Mar26 Silver(CMX) | 28.14| 21.50| 38.84| 28.69| 18.54| -1%| 164| |Dec25 Crude Oil(NYM) | 29.73| 24.62| 45.35| 30.77| 16.18| -3%| 66| |Dec25 US Dollar Index(ICE) | 6.41| 6.30| 8.79| 6.74| 4.69| -4%| 84| |Sep25 Feeder Cattle(CME) | 13.52| 16.85| 18.91| 14.37| 9.84| -5%| 13| |Nov25 Class III Milk(CME) | 18.07| 17.59| 24.65| 19.13| 13.60| -5%| 81| |May26 Wheat(CBOT) | 21.67| 12.78| 29.93| 23.21| 16.49| -6%| 224| |Dec25 Brent Crude Oil(ICE) | 26.55| 21.75| 43.14| 28.28| 13.42| -6%| 45| |May26 Wheat(KCBT) | 21.92| 13.84| 30.74| 23.67| 16.59| -7%| 224| |Mar26 Sugar #11(ICE) | 21.19| 14.74| 29.21| 22.87| 16.54| -7%| 157| |Nov25 Crude Oil(NYM) | 28.70| 25.40| 46.43| 31.79| 17.14| -9%| 34| |Dec25 Copper(CMX) | 18.91| 11.86| 27.15| 21.04| 14.92| -10%| 74| |Dec25 EuroFX(CME) | 6.79| 7.05| 10.58| 7.68| 4.78| -11%| 84| |May26 Soybean Meal(CBOT) | 16.10| 13.07| 23.17| 18.47| 13.76| -12%| 224| |Dec25 S & P 500 E-Mini(CME) | 13.50| 9.03| 24.10| 15.48| 6.86| -12%| 98| |Dec25 British Pound(CME) | 6.91| 6.32| 10.09| 7.93| 5.77| -12%| 84| |Dec25 New Zealand Dollar(CME) | 9.72| 8.50| 14.74| 11.06| 7.39| -12%| 84| |Mar26 Wheat(KCBT) | 21.39| 14.22| 32.18| 24.77| 17.36| -13%| 161| |Mar26 Wheat(CBOT) | 21.18| 13.16| 32.29| 24.80| 17.31| -14%| 161| |May26 Corn(CBOT) | 17.58| 16.93| 26.40| 20.85| 15.30| -15%| 224| |Feb26 Lean Hogs(CME) | 19.19| 11.07| 31.37| 23.00| 14.64| -16%| 154| |May26 Soybeans(CBOT) | 14.23| 10.44| 20.81| 17.07| 13.33| -16%| 224| |Oct25 RBOB Gasoline(NYM) | 27.03| 24.09| 45.55| 32.25| 18.95| -16%| 13| |Nov25 Brent Crude Oil(ICE) | 24.01| 22.33| 44.29| 29.04| 13.79| -17%| 12| |Dec25 Wheat(KCBT) | 21.08| 15.21| 33.58| 25.86| 18.13| -18%| 70| |Dec25 Australian Dollar(CME) | 8.25| 7.20| 13.45| 10.30| 7.14| -19%| 84| |Dec25 Corn(CBOT) | 18.30| 18.47| 28.80| 23.07| 17.35| -20%| 70| |Mar26 Corn(CBOT) | 17.34| 17.84| 27.48| 21.89| 16.31| -20%| 161| |May26 Cotton(ICE) | 15.60| 7.96| 26.77| 19.72| 12.68| -20%| 210| |Mar26 Soybeans(CBOT) | 14.39| 11.32| 22.35| 18.24| 14.12| -21%| 161| |Mar26 Soybean Meal(CBOT) | 15.52| 13.83| 25.67| 20.15| 14.63| -22%| 161| |Dec25 Wheat(CBOT) | 20.76| 13.64| 34.77| 26.71| 18.64| -22%| 70| |Nov25 Soybeans(CBOT) | 15.04| 13.28| 24.87| 19.78| 14.70| -23%| 42| |Jan26 Soybeans(CBOT) | 14.32| 12.41| 24.27| 19.33| 14.40| -25%| 105| |Oct25 Crude Oil(NYM) | 24.35| 25.93| 47.51| 32.84| 18.17| -25%| 5| |Mar26 Cotton(ICE) | 15.55| 8.51| 28.47| 21.46| 14.46| -27%| 154| |Dec25 Lean Hogs(CME) | 19.62| 13.80| 39.95| 28.62| 17.28| -31%| 91| |Oct25 Soybean Meal(CBOT) | 15.58| 17.30| 30.35| 22.70| 15.04| -31%| 14| |Dec25 Soybean Meal(CBOT) | 15.72| 14.81| 30.24| 22.82| 15.39| -31%| 70| |Sep25 NASDAQ 100 E-Mini(CME) | 12.99| 11.67| 28.74| 19.06| 9.37| -31%| 7| |Oct25 Sugar #11(ICE) | 18.47| 15.82| 34.30| 26.87| 19.44| -31%| 3| |Jan26 Soybean Meal(CBOT) | 14.78| 14.55| 28.93| 22.02| 15.12| -32%| 105| |Sep25 S & P 500 E-Mini(CME) | 9.88| 9.04| 23.97| 15.41| 6.84| -35%| 7| |Oct25 Class III Milk(CME) | 14.10| 21.72| 28.12| 22.10| 16.08| -36%| 53| |Dec25 NASDAQ 100 E-Mini(CME) | 17.70| 37.62| 68.87| 28.52| -11.84| -37%| 98| |Dec25 Canadian Dollar(CME) | 4.49| 3.97| 9.68| 7.31| 4.95| -38%| 84| |Dec25 Cotton(ICE) | 13.44| 9.11| 30.34| 23.10| 15.86| -41%| 56| |Oct25 Lean Hogs(CME) | 14.68| 16.54| 44.46| 31.91| 19.37| -54%| 32| |Sep25 Class III Milk(CME) | 4.48| 16.87| 27.38| 18.76| 10.14| -76%| 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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