Any recommendations on where to find IV levels for crude and nat gas? I am aware of OVX as a substitution. thanks.
What futures platform do you use? Many have option greeks including Implied vol. Check out CTS T4 desktop. 1245
I think OIV and OVX are fine - they're free and at least one of them updates every 15 seconds (I hope I'm remembering the interval correctly). I'm not aware of a similar VIX-like measure that exists for natural gas, although ivolatility.com used to publish a NG IV figure using their IVX methodology. They eliminated that a year or so ago; maybe the CME slapped their hands. If you want the ATM IV on particular contract months or the IV on options within those months, try www.quikstrike.net or http://www.cmegroup.com/tools-information/quikstrike.html. They have a free product they offer in conjunction with the CME plus several paid ones that start at $25/mo.