Commodity Option Chains on MCX
Track live MCX commodity option chains for Gold, Silver, Crude Oil, Natural Gas, Copper, and Zinc on INDmoney. Each option chain shows call and put premiums across every active strike, with open interest and volume updated through the 9 AM to 11:30 PM IST trading session.
Commodity Options on MCX
What are MCX commodity options?
Gold options give traders the right, but not the obligation, to buy or sell a gold futures contract at a specified price before or on expiry. This provides greater flexibility and can help manage risk while trading gold price movements. The same structure applies to Silver, Crude Oil, Natural Gas, Copper, and Zinc options - each gives the right over the corresponding futures contract, not the physical commodity.
Which commodities have options on MCX?
MCX currently offers options on 10 contracts across three categories: Bullion (Gold, Gold Mini, Silver, Silver Mini), Energy (Crude Oil, Crude Oil Mini, Natural Gas, Natural Gas Mini), and Base Metals (Copper, Zinc). Options are not available on Nickel, Aluminium, or the smaller bullion variants (Gold Ten, Gold Guinea, Gold Petal, Silver Micro, Silver 100).
How commodity option chains work
The option chain shows all available call (CE) and put (PE) contracts at every strike price for a given expiry. The strike closest to the current spot price is at-the-money (ATM). Call options gain value when the commodity price rises above the strike; put options gain value when it falls below. The premium paid upfront is the most a buyer can lose.
Settlement of MCX commodity options
MCX commodity options are European-style - they can only be exercised at expiry, not before. At expiry, in-the-money options are settled against the underlying futures contract price. Out-of-the-money options expire worthless, and the seller retains the premium received.
Commodity options vs futures - key difference
In a futures contract, both buyer and seller are obligated to fulfil the contract. In an options contract, the buyer has the right but not the obligation - the maximum loss for the buyer is the premium paid. Sellers of options collect the premium but carry unlimited theoretical risk if the price moves sharply against them.
Frequently Asked Questions
MCX offers options on Gold, Gold Mini, Silver, Silver Mini, Crude Oil, Crude Oil Mini, Natural Gas, Natural Gas Mini, Copper, and Zinc. Options are not available on Nickel, Aluminium, or the smaller bullion variants.
A call option gains value when the commodity price rises above the strike price. A put option gains value when the price falls below the strike. The premium paid upfront is the maximum a buyer can lose - there is no additional obligation beyond the premium for option buyers.
MCX commodity options are European-style - they can only be exercised at expiry. You cannot exercise them early. You can, however, sell your option position in the market at any time before expiry to exit.
The option chain shows every available strike with its call and put premiums, open interest, and OI change. High open interest at a strike indicates where large positions are concentrated, which can signal potential support (high put OI) or resistance (high call OI) levels for the underlying commodity.
Lot sizes match the underlying futures contract: Gold options - 1 kg per lot; Gold Mini - 100g; Silver - 30 kg; Crude Oil - 100 barrels; Crude Oil Mini - 10 barrels; Natural Gas - 1250 mmBtu; Copper and Zinc - 1 metric tonne each.
Premiums received by option sellers and profits from exercised options are treated as non-speculative business income and taxed at your applicable slab rate. STT applies on the sell side. Losses on options can be set off against other F&O income and carried forward for 8 years. Consult a tax advisor for your specific situation.