Copper Futures Quotes
How is copper quoted? The copper futures price is different
than the copper options price. Commodity and futures prices like copper prices are usually quoted the same way prices are
quoted in the cash market (physical market). That is, in dollars, cents, and sometimes fractions of a cent. Different commodities
are quoted in different trading units. copper prices are quoted per ounce. Be certain you understand the price quotation system
for the particular commodity that you consider trading.
The NYMEX copper futures contract is a contract
for future physical delivery of 25,000 lbs of copper; however, the vast majority of the futures positions are offset
well before delivery. The NYMEX copper futures contract is priced in dollars and cents per pound. The copper futures trade
in $0.0005 ($0.05 cents)increments, equivalent to $12.50 per contract.
Example of Futures Quote:
1.5085 means $1.5085 per pound.
Copper Options Quotes
copper options contract controls 25,000 lbs of copper based on the underlying futures contract. The copper option strike
prices are $0.01 (1¢) per pound apart for strike prices below $0.40 (40¢), $0.02 (2¢) per pound apart for strike
prices between $0.40 (40¢) and $1.20, and $0.05 (5¢) per pound apart for strike prices above $1.20.
Example of Options Quote:
0.0665 means $0.0665 per pound
X 25,000 ounces = $1,662.50
Click here to contact a commodities broker with experience in the copper market.