What is Options on goods that NCDEX has launched and his is it different from existing options?

NCDEX plans to launch Options in Goods contracts on rapeseed, wheat and maize from July 27. Till now, options were only allowed on futures and not on underlying asset. The 3 contracts, expiring in October and November 2020, would be available for trading from July 27. That means, NCDEX has taken the lead in India to launch Options in Goods contracts

In January 2020 SEBI had allowed exchanges to launch Options in Goods' n the commodity derivatives segment. The advantage with options in goods is that it provides a more symmetric form of settlement to clients. Now contracts settle on spot price and all open positions will be automatically converted into physical settlement at expiry.