Talking about commodity options or future options symbols and explaining them, it’s necessary to know that they are classified roughly into groups – first group for month, time or current months. In the following paragraphs, I will talk about the second group or classification.
Another classification of future options symbols is the currency. Since commodity options can be traded worldwide. Many currencies can be involved. The main currency is dollar but there are other currencies and variants of dollars in trading commodity options.
Some examples of dollar variants are Australia and Canadian dollars. Some of the other currencies are Euro, Eurodollar, Japanese Yen, Mexican Peso and other currencies.
The commodities also have their own symbols in the market. Some commodities have their own respective codes. There is a specific code for gold, silver platinum and even treasury bonds.
Also, essential commodities like food variants are also available. Oats, soybeans, oil, live cattle, wheat are often traded with their own codes.
Any trader in commodity options should study and know these codes and symbols since they are prime identifies of contracts being traded in the market.
If you are a trader, you should realize that the time for buying and selling for these contracts is precious and you need to buy or sell in the quickest time possible.
Learning about these symbols will help you in deciphering the code and make a deal quickly.
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