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Commodity Products
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Class III Milk Options
 


Type
 
Milk Options
Underlying Contract One Milk Futures contract
Pricing Unit Cents per hundredweight (cwt.)
Tick Size (minimum fluctuation) Full Tick: $0.01 per cwt (= $20.00 per contract)
Half tick: $0.005 per cwt (= $10.00 per contract)
Daily Price Limits None
Trading Hours CME Globex (Electronic Platform) Mondays at 9:05 a.m. through Friday at 1:55 p.m. with daily trading halts from 4:00 p.m. to 5:00 p.m
Open Outcry (Trading Floor) MON-FRI: 9:05 a.m. - 1:12 p.m. (LTD 12:10 p.m.)
Last Trade Date/Time
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Trading shall terminate on the business day immediately preceding the day on which the USDA
announces the Class III price for that contract month. (LTD 12:10 p.m.)
Contract Months
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All Calendar Months
Strike Price Intervals All Contract Months: $.25 intervals. See CME Rule 52A01.E
Exercise Procedure American Style See CME Rule 52A02
Position Limits Non-spot: 1,500 futures-equivalent contracts in any contract month
Spot: n/a
All months combined: n/a
See CME Rule 52A01.F.
Ticker Symbol CME Globex = DC
Open Outcray = DA
Clearing = DA
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Rulebook Chapter 52A
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of CBOT.