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Chicago SRW Wheat July-July CSO Contract Specs

Options
Contract Unit One long Chicago SRW 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.
Minimum Price Fluctuation 1/8 of one cent per bushel ($6.25 per contract)
Price Quotation The price basis shall be defined as the specified nearby Wheat futures contract month price minus the specified deferred Wheat futures contract month price.
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: 12W
Open Outcry: CWN
Clearing: CWN
Listed Contracts The nearest July-July (1 year) Wheat futures spread.
Termination Of Trading Trading terminates on the last business day of the contract month.
Position Limits CBOT Position Limits
Exchange Rulebook CBOT 14D
Vendor Codes Quote Vendor Symbols Listing
Strike Price Listing Procedures 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.
Exercise Style 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.
Settlement Method Deliverable
Underlying Wheat Futures