In April 2008, due to customer demand because of higher prices and volatility, the CBOT implemented wider strike price ranges based on a percentage of the underlying futures price. At that time, however, the strike generators used in clearing to generate strike prices were unable to generate new strike ranges daily. Instead, the strike listing rules were based on a percentage of the underlying futures quarterly, and used to approximate percentage-based strike ranges for the remainder of the quarter.
CME Group is the world's leading and most diverse derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.