With the significant move down in Live Cattle and Feeders futures during November, implied volatility had a dramatic spike upward. Feeder Cattle CVOL (GFVL) reached a high of 23, 10 points higher than November 6.
Live Cattle options posted a record 26K contracts in November, averaging 293K in open interest. Feeder Cattle also had record volume with over 5K contacts trading a day during November with the fourth highest average open interest of 66K contracts.
