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Short-Dated New Crop Soybean Oil Options Contract Specs

Options
Contract Unit One Soybean Oil futures contract (of a specified month) of 60,000 pounds
Minimum Price Fluctuation 5/1000 of a cent ($0.00005) per pound ($3.00 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: OLD
CME ClearPort: LDF
Open Outcry: LDF
Clearing: LDF
Listed Contracts On the first trading day following the expiration of October standard option, the following 6 contract months will be listed for next year: January (F), March (H), May (K), July (N), September (U), and October (V). 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 October standard option.
Termination Of Trading Unexercised Soybean Oil futures options shall expire at 7:00 p.m. on the last day of trading.
Position Limits CBOT Position Limits
Exchange Rulebook 12A
Strike Price Listing Procedures 1/2 cent per pound. More details on strike price intervals are outlined in Rule 12A01.E.
Exercise Style American-style.
Exercise Procedure 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 Oil Futures