 We are in the advanced trading strategies module and in this course What we are going to do is look at Futures trading from a hedging perspective. We are also going to look at a new type of a trade We have options on futures so far. We've looked at options on stocks We've looked at options on indices and now we are going to look at options on futures So for example, what I have here is the ES future contract So this is the SMP E-mini index futures So we're looking at the option chain for the future So the big difference is that the underlying asset in this case is the futures contract So it works a little differently It comes under the category of the futures market and you can see that the SMP futures Itself the slash ES has has this options chain right here and you can see that we have expiry in three days We have expiry in nine days and ten days and 24 days So in general the futures contract actually have a lot of options again You'll see the implied volatility numbers over here. You can see that the implied volatility of the front Series has about 21% and then the back series it keeps increasing So this is actually quite interesting because these Contracts they trade on a 24-hour basis. So this is the only place where you have options that trade on a 24-hour basis So you have the E-mini SMP 500 index futures the slash ES and if you wanted to trade options On the futures market. This is what this is where you would come and so if you look at the June series it has 24 days to expiry and We can look at the options and this looks like a regular options chain But the only difference is the underlying asset is a futures contract. So that's a big That's a big big change and now these options also have all your Greeks and you have your deltas gammas Thetas and vagas also