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Contact Specifications | Trade Futures

CORN OPTIONS

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Trading Unit One CBOT Corn futures contract (of a specified contract month) of 5,000 bu  
Tick Size

1/8 cent/bu ($6.25/contract)  
Strike Price

10 cents/bu  
Daily Price Limit

12 cents/bu ($600/contract) above or below the previous day’s settlement premium (expandable to 15 cents/bu). Limits are lifted on the last trading day.  
Contract Months

Dec, Mar, May, Jul, Sep  
Last Trading Day

The last Friday preceding the first notice day of the corresponding corn futures contract by at least five business days  
Exercise

The buyer of a futures option may exercise the option on any business day prior to expiration by giving notice to the Board of Trade Clearing Corporation by 6:00 p.m. Chicago time. Option exercise results in an underlying futures market position. Options at least 10 cents/bu in-the-money on the last day of trading are automatically exercised.  
Expiration

Unexercised options expire at 10:00 a.m. Chicago time on the first Saturday following the last day of trading.  
Trading Hours

9:30 a.m. – 1:15 p.m. Chicago time, Mon-Fri. Trading in expiring contracts closes at noon on the last trading day.Project A overnight session hours are from 10:30 p.m. – 4:30 a.m., Sun-Thu  
Ticker Symbols

CY for calls/PY for puts

TOP

See also  Contact Specifications | Trade Futures