In Closing

Options trading has its own vocabulary and its own math. When deciding to trade in options on futures contracts, you should discuss the risk reward with your commodity futures broker and read and thoroughly understand the Options Disclosure Document. In addition, have your broker provide you with educational information and literature prepared by the commodity exchanges on which options are traded. Or contact the exchange directly. A number of excellent publications are available. In no way, it should be emphasized, should anything discussed herein be considered trading advice or recommendations. Similarly with your broker or advisor. Contacting your broker or the exchanges where futures contracts are traded are your best sources for additional, more detailed information about futures trading.

Past performance is not necessarily indicative of future results. The risk of loss exists in futures and options trading.

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Information is believed to be reliable and is provided 'as is' without warranty.