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Corn Options Contract Specs

Options
Contract Size One Corn futures contract (of a specified month) of 5,000 bushels
Tick Size (minimum fluctuation) 1/8 of one cent per bushel ($6.25 per contract)
Strike Price Intervals Trading shall be conducted for put and call options with striking prices in integral multiples of five (5) cents and ten (10) cents per bushel. More details on strike price intervals are outlined in Rule 10A01.E.
Contract Months/Symbols March (H), May (K), July (N), September (U) & December (Z); a monthly (serial) option contract is listed when the front month is not a standard option contract. The monthly option contract exercises into the nearby futures contract. For example, an August option exercise into a September futures position.
Daily Price Limit There is no daily price limit any day.
Last Trade Date The last day of trading in any standard or serial option for expiry in a given month shall be the last Friday which precedes by at least two business days the last business day of the calendar month preceding such option’s named expiry month. If such Friday is not a business day, then the last day of trading in such option shall be the business day prior to such Friday.
Exercise The buyer of a futures option may exercise the option on any business day prior to 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.
Expiration Unexercised Corn futures options shall expire at 7:00 p.m. on the last day of trading.
Trading Hours CME Globex (Electronic Platform) Sunday – Friday, 7:00 p.m. – 7:45 a.m. CT and
Monday – Friday, 8:30 a.m. – 1:15 p.m. CT
Open Outcry (Trading Floor) Monday – Friday, 8:30 a.m. – 1:15 p.m. CT
Product Ticker Symbols CME Globex (Electronic Platform) OZC
C=Clearing
Open Outcry (Trading Floor) C
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of CBOT.