-
About
|
About CME Group Information and Resources - Careers|
-
Investor Relations
|
Investor Relations Financial ReportsShareholder Information - Media Room|
-
Feedback
|
- Global
- Electronic Trading |
-
Clearing
|
CME Derivatives Clearing Clearing ServicesFinancial and Collateral ManagementClearing OperationsBusiness Continuity Mgt/DR -
CME ClearPort
|
CME ClearPort - OTC Derivatives Clearing CME ClearPort -
Market Data Services
|
Market Data Services New and Existing DistributorsLicensed Distributors - Market Regulation |
- Education |
- Resources
Agricultural Products
View an Agricultural Product
Dec-July Wheat CSO Options
Type
| Wheat Calendar Spread Options: Dec-July | |||||
|---|---|---|---|---|---|
| Contract Size | One long Wheat futures contract (of a specified month) consisting of 5,000 bushels, and one short Wheat futures contract (of a differing specified month) consisting of 5,000 Bushels. | ||||
| Tick Size (Minimum Fluctuation) | 1/8 of one cent per bushel ($6.25 per contract) | ||||
| Pricing Basis | The price basis shall be defined as the specified nearby Wheat futures contract month price minus the specified deferred Wheat futures contract month price. | ||||
| Strike Price Intervals | Trading shall be conducted for put and call options on futures calendar spreads consisting of the nearby futures month and the next available futures month (nearby spreads) with strike prices in integral multiples of one cent per bushel per Wheat Calendar Spread option contract. Trading shall be conducted for put and call options on futures calendar spreads consisting of the nearby futures month and a futures month beyond the next available futures month (longer dated spreads) with strike prices in integral multiples of five cents per bushel per Wheat Calendar Spread option contract. More details on strike price intervals are outlined in Rule 14D01.E. | ||||
| Contract Months | The nearest December-July Wheat futures spread. | ||||
| Daily Price Limit | $1.20 cents per bushel, expandable to $1.80 and then to $2.70 when the market closes at limit bid or limit offer. There shall be no price limits on the last trading day. | ||||
| Last Trade Date | The last Friday preceding the first notice day of the corresponding nearby Wheat futures contract month by at least two business days. | ||||
| Exercise | The buyer of a futures calendar spread option may exercise the option only upon 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 absent contrary instructions. | ||||
| Position Limits | 5,000 futures-equivalent contracts net long or net short in any single contract month excluding the spot month; 6,500 futures-equivalent contracts net long or net short in all months combined. Refer to Rule 559 for requirements concerning the aggregation of positions and allowable exemptions from the specified position limits. |
||||
| Trading Hours (All times listed are Central Time) |
CME Globex (Electronic Platform) |
5:00 pm - 2:00 pm, Sunday - Friday Central Time
|
|||
| Open Outcry (Trading Floor) |
9:30 a.m. – 1:15 p.m. Central Time, Monday-Friday
|
||||
| Ticker Symbol | CME Globex: WC6 for the nearest December - July calendar spread. Open Outcry: CW6 for the nearest December - July calendar spread. View Product Codes View Vendor Codes |
||||
| Exchange Rule | These contracts are listed with, and subject to, the rules and regulations of CBOT. | ||||
