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Agricultural Products
View an Agricultural Product
July-Dec Corn CSO Options
Type
| Corn Calendar Spread Options: July-Dec | |||||
|---|---|---|---|---|---|
| Contract Size | One long Corn futures contract (of a specified month) consisting of 5,000 bushels, and one short Corn futures contract (of a differing specified month) consisting of 5,000 Bushels. | ||||
| Tick Size (minimum fluctuation) | 1/8 of one cent per bushel ($6.25 per contract) | ||||
| Pricing Basis | The price basis shall be defined as the specified nearby Corn futures contract month price minus the specified deferred Corn futures contract month price. | ||||
| Strike Price Intervals | Trading shall be conducted for put and call options on futures calendar spreads consisting of the nearby futures month and the next available futures month (nearby spreads) with strike prices in integral multiples of one cent per bushel per Corn Calendar Spread option contract. Trading shall be conducted for put and call options on futures calendar spreads consisting of the nearby futures month and a futures month beyond the next available futures month (longer dated spreads) with strike prices in integral multiples of five cents per bushel per Corn Calendar Spread option contract. More details on strike price intervals are outlined in Rule 10J01.E. | ||||
| Contract Months | The nearest July-December Corn futures spread. | ||||
| Daily Price Limit | The sum of the daily price limits of the underlying legs. There shall be no price limits on the last trading day. | ||||
| Last Trade Date | The last Friday preceding the first notice day of the corresponding nearby Corn futures contract month by at least two business days. | ||||
| Exercise | The buyer of a futures calendar spread option may exercise the option only upon expiration by giving notice to the Clearing House 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 absent contrary instructions. | ||||
| Position Limits | 13,500 futures-equivalent contracts net long or net short in any single contract month excluding the spot month; 22,000 futures-equivalent contracts net long or net short in all months combined. Refer to Rule 559 for requirements concerning the aggregation of positions and allowable exemptions from the specified position limits. |
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| Trading Hours (All times listed are Central Time) |
CME Globex (Electronic Platform) |
5:00 pm - 2:00 pm, Sunday - Friday Central Time
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| Open Outcry (Trading Floor) |
9:30 a.m. – 1:15 p.m. Monday-Friday Central Time
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| Ticker Symbol | CME Globex: CZ6 for the nearest July - December calendar spread Open Outcry: CC6 for the nearest July - December calendar spread View Product Codes View Vendor Codes |
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| Exchange Rule | These contracts are listed with, and subject to, the rules and regulations of CBOT. | ||||
