Interest Rate Options on Futures

Interest Rate Options

View all IR Options

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 1,020,802 21,241,823
OZN 10-Year T-Note Options Options 527,048 2,890,057
S0 One-Year Mid-Curve Options on Three-Month SOFR Futures Options 246,569 2,744,696
S2 Two-Year Mid-Curve Options on Three-Month SOFR Futures Options 49,203 1,311,593
OZF 5-Year T-Note Options Options 212,082 978,409
OZB U.S. Treasury Bond Options Options 154,728 684,011
S3 Three-Year Mid-Curve Options on Three-Month SOFR Futures Options 27,177 647,914
ZN3 10-Year T-Note Weekly Options - Week 3 Options 154,350 231,084
OZT 2-Year T-Note Options Options 11,797 180,403
ZB3 U.S. Treasury Bond Weekly Options - Week 3 Options 26,721 77,337
Trade Date: 13 Dec 2024 | PRELIMINARY
Globex Product Name Cleared As Volume Open Interest
SR3 Options on Three-Month SOFR Futures Options 1,020,802 21,241,823
OZN 10-Year T-Note Options Options 527,048 2,890,057
S0 One-Year Mid-Curve Options on Three-Month SOFR Futures Options 246,569 2,744,696
S2 Two-Year Mid-Curve Options on Three-Month SOFR Futures Options 49,203 1,311,593
OZF 5-Year T-Note Options Options 212,082 978,409
OZB U.S. Treasury Bond Options Options 154,728 684,011
S3 Three-Year Mid-Curve Options on Three-Month SOFR Futures Options 27,177 647,914
ZN3 10-Year T-Note Weekly Options - Week 3 Options 154,350 231,084
OZT 2-Year T-Note Options Options 11,797 180,403
ZB3 U.S. Treasury Bond Weekly Options - Week 3 Options 26,721 77,337
Trade Date: 13 Dec 2024 | PRELIMINARY
Globex Product Name Cleared As Volume Open Interest
SR3 Options on Three-Month SOFR Futures Options 1,020,802 21,241,823
OZN 10-Year T-Note Options Options 527,048 2,890,057
S0 One-Year Mid-Curve Options on Three-Month SOFR Futures Options 246,569 2,744,696
S2 Two-Year Mid-Curve Options on Three-Month SOFR Futures Options 49,203 1,311,593
OZF 5-Year T-Note Options Options 212,082 978,409
OZB U.S. Treasury Bond Options Options 154,728 684,011
S3 Three-Year Mid-Curve Options on Three-Month SOFR Futures Options 27,177 647,914
ZN3 10-Year T-Note Weekly Options - Week 3 Options 154,350 231,084
OZT 2-Year T-Note Options Options 11,797 180,403
ZB3 U.S. Treasury Bond Weekly Options - Week 3 Options 26,721 77,337
Trade Date: 13 Dec 2024 | PRELIMINARY

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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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