HG - Copper Futures
COMEX Copper futures (HG): high-grade copper futures used for industrial-metal hedging and macroeconomic positioning.
As of May 29, 2026: spot at $29.56, ATM IV 14.8%, max pain $23.00, net GEX $51.0K.
- Sector
- Metals Futures
- Industry
- Metals Futures
- Exchange
- COMEX
What HG Looks Like to Options Traders Today
IV rank of 0.0% is subdued relative to the 1-year history, conditions that typically favor premium-buying or long-volatility structures (debit spreads, calendar spreads, long straddles); positive net gamma exposure ($51.0K) means dealers hedge against trend, damping realized volatility and biasing price toward heavy-OI strikes; the 25-delta skew (0.141) prices calls richer than puts, often reflecting upside speculation or squeeze risk.
What This Page Covers
The HG overview links into per-metric analysis views: max pain, gamma exposure, volatility skew, expected move, options chain, open interest history, and aggregate Greeks.
Frequently asked HG overview questions
- What is HG?
- HG is the ticker symbol for Copper Futures, a listed futures contract. COMEX Copper futures (HG): high-grade copper futures used for industrial-metal hedging and macroeconomic positioning. Listed on COMEX. HG is the listed futures symbol shown on this page; futures traders use the contract for directional exposure, hedging the underlying instrument, and as the delivery instrument for options-on-futures structures.
- What does the HG options snapshot look like today?
- As of May 29, 2026, the HG options snapshot shows spot at $29.56, ATM IV 14.8%, IV rank 0.0%, max pain $23.00, net GEX $51.0K, expected move 4.24%. The full options chain, Greeks by strike and expiration, per-strike open-interest distribution, dealer gamma and delta exposure, and the volatility skew surface are linked from this overview page. Each per-metric route refreshes once per trading session and reflects the most recent close-of-business listed-options state.
- What are HG's key statistics?
- Copper Futures (HG) carries a COMEX-listed Copper Futures contract with a $25000 per dollar point value and $0.0005 per pound tick. Full contract specifications including settlement convention, tick size, and curve term-structure context are on the contract reference block above. Options-on-futures pricing references these spec fields directly via the multiplier and exchange contract rules.
- What does the HG futures curve look like?
- HG represents the Copper Futures contract root on the COMEX, a Metals Futures listing. The full curve consists of multiple monthly (and occasionally quarterly) expirations stretching out the calendar; analytics on this page reference the front-month listing by default while the per-contract pages cover specific listed months. Each listed month carries its own implied-volatility surface, open-interest distribution, and basis to the underlying. The front-month contract typically dominates volume; back-month listings price the term structure of the underlying's expected volatility and (for physically-delivered contracts) the carry between spot and forward.
- How current is the HG data on this page?
- The options snapshot above is dated May 29, 2026 and refreshes once per session, with all per-strike Greeks and exposure aggregates recomputed at the daily close. Contract specifications come from the listing exchange (CME / CBOT / NYMEX / COMEX / CFE) and do not change over the life of the contract once listed. Options-on-futures data, when available, refreshes after each trading session. There is no equity-style FINRA reporting or sell-side analyst coverage for futures contracts.