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Agricultural Products
View an Agricultural Product
Soybean Meal Options
Type
| Soybean Meal Options | |||||
|---|---|---|---|---|---|
| Contract Size | One Soybean Meal futures contract (of a specified month) of 100 short tons | ||||
| Tick Size (minimum fluctuation) | 5 cents per short ton ($5 per contract) | ||||
| Strike Price Intervals | $5 per short ton when strike price is less than $200 per short ton; $10 per short ton when strike price is $200 per short ton or over. More details on strike price intervals are outlined in Rule 13A01.E. | ||||
| Contract Months/Symbols | January (F), March (H), May (K), July (N), August (Q), September (U), October (V) & 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 October option exercises into an October futures position. | ||||
| Daily Price Limit | $20 per short ton expandable to $30 and then to $45 when the market closes at limit bid or limit offer. There shall be no price limits on the last trading day. | ||||
| Last Trade Date | For standard option contracts: The last Friday preceding the first notice day of the corresponding Soybean Meal futures contract month by at least two business days. For serial option contracts: The last Friday which precedes by at least two business days the last business day of the month preceding the option month. |
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| 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 Soybean Meal futures options shall expire at 7:00 p.m. on the last day of trading. | ||||
| Trading Hours | CME Globex (Electronic Platform) |
6:00 pm - 7:15 am and 9:30 am - 1:15 pm Central Time, Sunday - Friday
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| Open Outcry (Trading Floor) |
9:30 am - 1:15 pm Central Time, Monday - Friday
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| Product Ticker Symbols | CME Globex (Electronic Platform) | OZM 06=Clearing |
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| Open Outcry (Trading Floor) | MY for calls/MZ for puts | ||||
| Exchange Rule | These contracts are listed with, and subject to, the rules and regulations of CBOT. | ||||
