Puts & calls

Price a put (a floor under what you sell) or a call (a ceiling on what you buy) on any market and contract month. See the premium, your floor, the break-even and the odds, plus every strike nearby.

These are estimates from the standard options formula (Black-76) using recent volatility, not live CME quotes. Ask your broker for a firm price.

Your option

Market

Contract month

Futures price

Strike price

Volatility (% per year)

Your basis (¢, optional)

Contracts

Days to expiration

Estimated premium

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Cost per contract

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Total

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Futures floor

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Cash floor (with basis)

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Odds it finishes in the money

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Delta (moves per 1¢/$1)

—

Strikes near the money

Call	Call odds	Strike	Put	Put odds	Put floor

Tap a row to price that strike. Bold line = closest to today's futures price.

Buying a put

Sets a minimum futures price for grain or livestock you'll sell. If the market falls, the put gains; if it rallies, you lose only the premium and sell higher. Floor = strike minus premium (plus your basis for a cash floor).

Buying a call

Sets a maximum on something you'll buy, like corn for a feedlot or feeder cattle. Also used to stay in the market after selling grain at the elevator.

Selling options

Collects the premium but carries open-ended risk and margin calls. Talk to your broker before writing puts or calls.

Estimates use the Black-76 model with a 4% interest rate and the volatility shown (30-day historical by default). Real premiums include market supply and demand and differ, especially around USDA reports. Expiration dates are calculated from CME rules and holidays; confirm with your broker. Not investment or trading advice.