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Short-Dated New Crop Corn Options Contract Specs

Contract Unit One new crop Corn futures contract (December) of 5,000 bushels
Minimum Price Fluctuation 1/8 of one cent per bushel ($6.25 per contract)
Trading Hours CME Globex: Sunday – Friday, 7:00 p.m. – 7:45 a.m. CT and
Monday – Friday, 8:30 a.m. – 1:20 p.m. CT
Open Outcry: Monday – Friday, 8:30 a.m. – 1:15 p.m.
CT with Post session until 1:20 p.m. CT immediately following the close
Product Code CME Globex: OCD
CME ClearPort: CDF
Open Outcry: CDF
Clearing: CDF
Listed Contracts On the first trading day following the expiration of September option, the following 9 contract months will be listed for 2 years: January (F), February (G), March (H), April (J), May (K), June (M), July (N), August (Q), and September (U). Each of these options will exercise into the December futures contract that is nearest to the expiration of the option. A new listing cycle will begin on the first trading day following the expiration of the next standard September option.
Termination Of Trading Unexercised Corn futures options shall expire at 7:00 p.m. on the last day of trading.

Same as the last trade date of standard and serial options of the same contract month.
Position Limits CBOT Position Limits
Exchange Rulebook CBOT 10A
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing
Strike Price Listing Procedures Trading shall be conducted for put and call options with strike prices in integral multiples of five (5) cents per bushel. More details on strike price intervals are outlined in Rule 10A01.E.
Exercise Style American-style. 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.
Settlement Method Deliverable
Underlying Corn Futures