CME Group » Agriculture » Wheat
Agricultural Products
View an Agricultural Product
Wheat Options
Quotes | Contract Specifications | Performance Bonds / Margins | Product Calendar | Learn More
 


Type
 
Wheat Options
Contract Size One Wheat futures contract (of a specified month) of 5,000 bushels
Tick Size (minimum fluctuation) 1/8 of one cent per bushel ($6.25 per contract)
Strike Price Intervals Trading shall be conducted for put and call options with striking prices in integral multiples of five (5) cents and ten (10) cents per bushel. More details on strike price intervals are outlined in Rule 14A01.E.
Contract Months/Symbols March (H), May (K), July (N), September (U) & 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 contact. For example, an August option exercise into a September futures position.
Daily Price Limit $0.60 per bushel expandable to $0.90 and then to $1.35 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 day of trading in any standard or serial option for expiry in a given month shall be the last Friday which precedes by at least two business days the last business day of the calendar month preceding such option’s named expiry month. If such Friday is not a business day, then the last day of trading in such option shall be the business day prior to such Friday.
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 Wheat futures options shall expire at 7:00 p.m. on the last day of trading.
Trading Hours CME Globex (Electronic Platform)
5:00 pm - 2:00 pm, Sunday - Friday Central Time
Open Outcry (Trading Floor)
9:30 am - 1:15 pm Central Time, Monday - Friday
Product Ticker Symbols CME Globex (Electronic Platform) OZW
W=Clearing
Open Outcry (Trading Floor)
WY for calls/WZ for puts
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of CBOT.