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Soybean Meal Options Contract Specs

Options
Contract Unit One Soybean Meal futures contract (of a specified month) of 100 short tons
Minimum Price Fluctuation 5 cents per short ton ($5 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: OZM
CME ClearPort: 06
Open Outcry: Put: MZ Call: MY
Clearing: 06
Listed Contracts 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.
Termination Of Trading Unexercised Soybean Meal futures options shall expire at 7:00 p.m. on the last day of trading.
Position Limits CBOT Position Limits
Exchange Rulebook CBOT 13A
Price Limit Or Circuit Price Limits
Vendor Codes Quote Vendor Symbols Listing
Strike Price Listing Procedures $$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.
Exercise 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 Soybean Meal Futures