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MCX launches 2 new Commodity Options Contracts in a push towards inclusivity and pocket-friendliness

  • Apr 29, 2025

In a move that pocket-conscious traders will welcome, Multi Commodity Exchange of India (MCX) has launched two new Options Contracts for trading, effective April 23, 2024:

  • Crude Oil Mini Options [with Crude Oil Mini (10 barrels) Futures as underlying]
  • Natural Gas Mini Options [with Natural Gas Mini (250 MMBtu) Futures as underlying]

Tell me more!

Let’s check out the specifications one by one:

Crude Oil Mini

Crude Oil Mini Options contracts will be available for trading as below:

Contract Launch Date

Contract Expiry Date

Contract Expiry Month

April 23, 2024

June 14, 2024

June 2024

April 23, 2024

July 17, 2024

July 2024


Contract Specifications for MCX Crude Oil Mini Options with Crude Oil Mini (10 barrels) Futures as underlying:

Symbol

CRUDEOILM

Underlying

Underlying shall be Crude Oil Mini Futures contract traded on MCX

Description

Options on Crude Oil Mini Futures

Option Type

European Call & Put Options

Contract Listing

Contracts will be available as per the Contract Launch Calendar

Contract Start Day

The next business day immediately after the expiry of the near month futures contracts

Expiry Day (Last Trading Day)

Two business days prior to the Expiry Day of the underlying futures contract

Trading

Trading Unit

One MCX Crude Oil Mini futures contract (10 bbl)

Strikes

25 In-the-money, 25 Out-of-the-money and 1 Near-the money (51 CE and 51 PE). The Exchange, at its discretion, may introduce additional strikes, if required.

Strike Price

Intervals of Rs. 50

Base price

Base price shall be theoretical price on Black 76 option pricing model on the first day of the contract. On all other days, it shall be previous day’s Daily Settlement Price of the contract.

Tick Size (Minimum Price Movement)

Rs. 0.05


For further information pertaining to this Contract’s margins, premium, position limits, and settlement, and to browse through its launch calendar for the year 2024, click MCX/TRD/241/2024.

Natural Gas Mini

Natural Gas Mini Options contracts will be available for trading as below:

Contract Launch Date

Contract Expiry Date

Contract Expiry Month

April 23, 2024

May 24, 2024

May 2024

April 23, 2024

June 21, 2024

June 2024


Contract Specifications for MCX Natural Gas Mini Options with Natural Gas Mini (250 MMBtu) barrels) Futures as underlying:

Symbol

NATGASMINI

Underlying

Underlying shall be Natural Gas Mini Futures contract traded on MCX

Description

Options on Natural Gas Mini Futures

Option Type

European Call & Put Options

Contract Listing

Contracts will be available as per the Contract Launch Calendar

Contract Start Day

The next business day immediately after the expiry of the near month futures contracts

Expiry Day (Last Trading Day)

Two business days prior to the Expiry Day of the underlying futures contract

Trading

Trading Unit

One MCX Natural Gas Mini Futures Contract (250 MMBtu)

Strikes

15 In-the-money, 15 Out-of-the money and 1 Near-the-money (31CE and 31 PE). The Exchange, at its discretion, may introduce additional strikes, if required.

Strike Price

Intervals of Rs. 5

Base price

Base price shall be theoretical price on Black 76 option pricing model on the first day of the contract. On all other days, it shall be previous day’s Daily Settlement Price of the contract.

Tick Size (Minimum Price Movement)

Rs. 0.05


For further information pertaining to this Contract’s margins, premium, position limits, and settlement, and to browse through its launch calendar for the year 2024, click MCX/TRD/242/2024.

References: Circulars MCX/TRD/241/2024 and MCX/TRD/242/2024, dated April 19, 2024.
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