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Managing Risk at CME Group - How it All Works
A great and yet very simple introduction to the vital role CME Group plays in helping people manage their risk on a daily basis....
Latin America
Soybean Meal Calendar Spread Options
A New Way to Manage the Spread Risk Between Calendar Months
Consecutive Soybean Meal CSO
July-Dec Soybean Meal CSO
Soybean Meal Calendar Spread options (CSOs) are options on the price differential between two contract months, rather than on the underlying asset itself. Therefore, they offer alternative hedging capabilities compared to standard options, and can provide a more precise hedge against adverse movements in price spreads in the grain and oilseed markets.
CSOs are sensitive only to the value and volatility of the spread itself, rather than the price of the underlying commodity. They are more efficient than combining options on 2 different months in an effort to replicate the spread, and provide a better risk management device for hedgers and market participants exposed to calendar spread risks.
The three consecutive futures calendar spreads and the longer dated spread will be listed at all times. When the existing longer dated spread(s) expire the corresponding longer dated spread(s) for the following year will be listed.
| Resources |
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| Grain and Oilseed Calendar Spread Options Fact Card (PDF) UPDATED - CSO Symbols and Strike Increments (PDF) Introduction to Calendar Spread Options Benefits and Examples |
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