Interest Rate Options on Futures

Interest Rate Options

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With 2.3 million contracts traded daily in 2022, and 140 expirations listed at a time across Treasuries and SOFR, Interest Rate options give you the liquidity and flexibility to manage risk efficiently across the entire U.S. dollar-denominated yield curve.

Globex Product Name Cleared As Volume Open Interest
SR3 Options on Three-Month SOFR Futures Options 1,019,199 36,656,398
S0 One-Year Mid-Curve Options on Three-Month SOFR Futures Options 159,260 4,096,041
OZN 10-Year T-Note Options Options 432,914 2,269,366
S2 Two-Year Mid-Curve Options on Three-Month SOFR Futures Options 36,513 1,727,871
OZF 5-Year T-Note Options Options 114,199 855,466
S3 Three-Year Mid-Curve Options on Three-Month SOFR Futures Options 6,302 574,121
OZB U.S. Treasury Bond Options Options 110,648 447,923
ZN2 10-Year T-Note Weekly Options - Week 2 Options 170,911 326,628
OZT 2-Year T-Note Options Options 14,161 248,615
ZN3 10-Year T-Note Weekly Options - Week 3 Options 50,480 153,464
Trade Date: 01 Mar 2024 | FINAL
Globex Product Name Cleared As Volume Open Interest
SR3 Options on Three-Month SOFR Futures Options 1,019,199 36,656,398
S0 One-Year Mid-Curve Options on Three-Month SOFR Futures Options 159,260 4,096,041
OZN 10-Year T-Note Options Options 432,914 2,269,366
S2 Two-Year Mid-Curve Options on Three-Month SOFR Futures Options 36,513 1,727,871
OZF 5-Year T-Note Options Options 114,199 855,466
S3 Three-Year Mid-Curve Options on Three-Month SOFR Futures Options 6,302 574,121
OZB U.S. Treasury Bond Options Options 110,648 447,923
ZN2 10-Year T-Note Weekly Options - Week 2 Options 170,911 326,628
OZT 2-Year T-Note Options Options 14,161 248,615
ZN3 10-Year T-Note Weekly Options - Week 3 Options 50,480 153,464
Trade Date: 01 Mar 2024 | FINAL
Globex Product Name Cleared As Volume Open Interest
SR3 Options on Three-Month SOFR Futures Options 1,019,199 36,656,398
S0 One-Year Mid-Curve Options on Three-Month SOFR Futures Options 159,260 4,096,041
OZN 10-Year T-Note Options Options 432,914 2,269,366
S2 Two-Year Mid-Curve Options on Three-Month SOFR Futures Options 36,513 1,727,871
OZF 5-Year T-Note Options Options 114,199 855,466
S3 Three-Year Mid-Curve Options on Three-Month SOFR Futures Options 6,302 574,121
OZB U.S. Treasury Bond Options Options 110,648 447,923
ZN2 10-Year T-Note Weekly Options - Week 2 Options 170,911 326,628
OZT 2-Year T-Note Options Options 14,161 248,615
ZN3 10-Year T-Note Weekly Options - Week 3 Options 50,480 153,464
Trade Date: 01 Mar 2024 | FINAL

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Product Spotlight

SOFR Options

Three-Month SOFR options offer greater flexibility for managing SOFR price risk and exciting new spreading opportunities versus Eurodollar options.

Learn about SOFR Options

3-, 6-, 9-Month SOFR Mid-Curve options

Three-, six-, and nine-month SOFR Mid-Curve options bring greater flexibility to the front of the SOFR curve by offering short-dated monthly options on white quarterly SOFR futures.

Learn about monthly Mid-Curves

Weekly Treasury Options

Wednesday and Friday Weekly Treasury options give you more flexibility to manage existing positions and greater precision to trade economic events.

Learn about Wednesday and Friday Weekly Treasury options

Treasury Volatility Indexes (CVOL)

Derived from options on Treasury futures, the CME Group Volatility Index (CVOL) holistically captures constant 30-day implied volatility, producing a robust measure of forward-looking risk expectations for each tenor.

Learn about Treasury CVOL Indexes

Product Applications

    • Treasury Options for Fixed Income Asset Managers
    • Treasury Options for Fixed Income Asset Managers Fixed income asset managers have many strategic alternatives available to them including the use of spot, futures and option markets in their pursuit of investment value (or “alpha”) relative to market benchmarks.
    • Using Weekly Options to Trade Economic Indicators
    • Using Weekly Options to Trade Economic Indicators CME Group offers weekly options expiring on Fridays on a variety of contracts including E-mini S&P 500 futures; 1-year, 2-year and 3-year Mid-Curve Eurodollar futures; and, 10-year Treasury note futures.

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