# What are Ag Options Traders 'Smiling' About?

> CME options data shows traders pricing a stronger fear of upside than downside for corn, hard red winter wheat, soybeans and soymeal as of February 20, 2018. Out-of-the-money calls carry higher premiums than puts, a volatility smile pattern.

- Date: 2018-02-22 · published 2018-02-22T12:00:00.000Z
- Category: market · region Global · magnitude low
- Page: https://feedsoft.ai/events/66588-what-are-ag-options-traders-smiling-about
- Commodities: [Corn](https://feedsoft.ai/c/CORN.md), [Wheat (SRW)](https://feedsoft.ai/c/WHEAT.md), [Wheat (HRW)](https://feedsoft.ai/c/KWHEAT.md), [Soybeans](https://feedsoft.ai/c/SOY.md), [Soybean Meal](https://feedsoft.ai/c/SBM.md)

## Why it matters

Skewed call premiums signal that the market expects a greater chance of sharp price rallies, which raises the cost of protection for feed buyers who want to hedge upside exposure.

## Read by commodity

- SBM: bullish ▲
- SOY: bullish ▲
- CORN: bullish ▲
- WHEAT: bullish ▲
- KWHEAT: bullish ▲

## Sources

- cmegroup.com: https://www.cmegroup.com/education/featured-reports/what-are-ag-options-traders-smiling-about

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.