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Class IV Milk Options
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Type
 
Milk Options
Underlying Contract One Class IV Milk Futures contract
Pricing Unit Cents per hundred weight (cwt.)
Tick Size (minimum fluctuation) Full Tick: $0.01 per cwt (= $20.00 per contract)
Half tick: $0.005 per cwt (= $10.00 per contract)
Daily Price Limits None
Trading Hours (All times listed are Central Time) GLOBEX (Electronic Platform) 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 (Trading Floor) MON–FRI: 9:05 a.m. – 1:12 p.m. (LTD 12:10 p.m.)
Last Trade Date/Time
View Calendar		 Trading shall terminate on the business day immediately preceding the day on which the USDA announces the Class III price for that contract month. (LTD 12:10 p.m.)
Contract Months
View Listings		 All Calendar Months
Strike Price Intervals All Contract Months: $.25 intervals. See CME Rule 55A01.E
Exercise Procedure American Style See CME Rule 55A02
Position Limits Non-spot: 1,000 futures-equivalent contracts in any contract month
Spot: n/a
All months combined: n/a
See CME Rule 55A01.F.
Ticker Symbol View Product Codes
View Vendor Codes
Rulebook Chapter 55A
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of the CME.