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Cash-Settled Cheese Options Contract Specs

Options
Minimum Price Fluctuation Full Tick: $0.001 per pound (= $20.00 per contract)
Half tick: $0.0005 per pound (= $10.00 per contract)
Price Quotation Dollars per pound
Trading Hours CME Globex: Sundays at 5:00 p.m. through Friday at 1:55 p.m. with daily trading halts from 4:00 p.m. to 5:00 p.m.
Open Outcry: MON-FRI: 9:05 a.m. - 1:12 p.m. (LTD 12:10 p.m.)
CME ClearPort: Sunday – Friday 5:00 p.m. – 4:00 p.m. Chicago Time (CT) with a 60–minute break each day beginning at 4:00 p.m.
Product Code CME Globex: CSC
CME ClearPort: CSC
Open Outcry: CSC
Clearing: CSC
Listed Contracts Monthly contracts listed for 24 consecutive months
Termination Of Trading Trading terminates on the business day immediately preceding the release date for the USDA monthly weighted average price in the U.S. for cheese. LTD close is at 12:10 p.m. Central Time
Position Limits CME Position Limits
Exchange Rulebook CME 60A
Price Limit Or Circuit Price Limits
Vendor Codes Quote Vendor Symbols Listing
Strike Price Listing Procedures Strikes listed for 50% of the underlying settlement price above and below the at-the-money strike at $0.025 per pound increments in all months.
Exercise Procedure Any business day that the option is traded until 7:00 p.m.
Settlement Method Deliverable
Underlying Cheese Futures