Contact Specifications | Trade Futures

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Trading Unit One CBOT Soybean Meal futures contract (of a specified contract month) of 100 tons  
Tick Size

5 cents/ton ($5/contract)  
Strike Prices

$5/ton when futures price is less than $200/ton; $10 per ton when futures price is $200/ton or over Daily Price Limit $10/ton ($1,000/contract) above or below the previous days settlement premium (expandable to $15/ton). Limits are lifted on the last trading day.  
Contract Months

Oct, Dec, Jan, Mar, May, Jul, Aug, Sep  
Last Trading Day

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

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 in-the-money on the last day of trading are automatically exercised.  

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

MY for calls/MZ for puts

The contents herein are strictly the opinion of its writers and is intended solely for informative purposes and is not to be construed, under any circumstances by implication or otherwise, as an offer to sell or a solicitation to buy or trade in any commodities or securities herein named. Information is obtained from sources believed to be reliable, but is in no way guaranteed. No guarantee of any kind is implied or possible where projections of futures conditions are attempted.

See also  Contact Specifications | Trade Futures

Futures trading involves substantial risk of loss and is not suitable for everyone. In no event should the content of this site be construed as an express or an implied promise, guarantee or implication by or from Trade Futuresor National Commodities Corporation, Inc., that you will profit or that losses can or will be limited in any manner whatsoever. No such promises, guarantees or implications are given. Past results are no indication of futures performance.