Find 25 proven strategies to use in trading options on futures. Examples include butterflies, straddles, back spreads and conversions. Each strategy includes an illustration of the effect of time decay on the total option premium.

Options on futures rank among our most versatile risk management tools, and we offer them on most of our products. Whether you trade options for purposes of hedging or speculating, you can limit your risk to the amount you paid up-front for the option while maintaining your exposure to beneficial price movements.

Discover the key benefits of options

Learn how other market participants manage risk, maximize capital efficiency, and utilize a variety of tools in the options market.


All examples in this report are hypothetical interpretations of situations and are used for explanation purposes only. The views in this report reflect solely those of the author and not necessarily those of CME Group or its affiliated institutions. This report and the information herein should not be considered investment advice or the results of actual market experience.

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