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Grain and Oilseed
Product Overview
View Current Daily Price Limits
Options on corn futures provide a way to:
- Effectively manage price risk associated with the purchase and sale of corn by merchandisers, producers, food processors and other commercial users
- Utilize some strategies to allow hedgers to reduce price level risk while retaining the opportunity to improve their purchase or selling price
- Trade based on price movement, spreads or market volatility
- Trade in deep liquid markets
Things to Know:
- Corn option contracts are available for trading over 15 hours per day providing customers access regardless of their time zone
- Corn options trade electronically on the CME Globex platform during the Asian and European daytime market hours as well as on the trading floor during the primary U.S. grain trading hours
- Corn call and put options have numerous strike prices to choose from
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General News & Announcements for Corn
CME Product Market Data
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| Trade Unit | One CBOT Corn futures contract (of a specified contract month) of 5,000 bushels | ||
| Settle Method | Delivery | ||
| Point (Tick) Size | 1 tick = 1/8 cent per bushel = $6.25 per contract | ||
| Strike Price Interval | 5 cents/bushel for the first two months and 10 cents/bushel for all other months. At the commencement of trading, list 5 strikes above and 5 strikes below the at-the-money. | ||
| Strike | |||
| Limits/Price Banding | Price limits scalable to next level above or below when price settles at limit. ($0.30/$0.45/$0.70) per bushel ($1,500/$2,250/$3,500 contract) above or below the previous day's settlement price. | ||
| Minimum Fluctuation |
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| Trading Hours | Electronic: 6:00 p.m. - 6:00 a.m. and 9:30 a.m. - 1:15 p.m. Central Time, Sun.-Fri. | ||
| Listed | All listed intervals. | ||
| Product Codes | Clearing: C Open Auction: CY for calls/PY for puts Electronic: OZC | ||
| Minimum Block Size | |||
| Product Calendar | Dec, Mar, May, Jul, Sep; 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 contract. For example, an August option exercises into a September futures position.
View current product listings |
| Trade Unit | One CBOT Corn futures contract (of a specified contract month) of 5,000 bushels | ||
| Settle Method | Delivery | ||
| Point (Tick) Size | 1 tick = 1/8 cent per bushel = $6.25 per contract | ||
| Strike Price Interval | 5 cents/bushel for the first two months and 10 cents/bushel for all other months. At the commencement of trading, list 5 strikes above and 5 strikes below the at-the-money. | ||
| Strike | |||
| Limits/Price Banding | Price limits scalable to next level above or below when price settles at limit. ($0.30/$0.45/$0.70) per bushel ($1,500/$2,250/$3,500 contract) above or below the previous day's settlement price. | ||
| Minimum Fluctuation |
|
||
| Trading Hours | Open Auction: 9:30 a.m. - 1:15 p.m. Central Time, Mon-Fri. | ||
| Listed | All listed intervals | ||
| Product Codes | Clearing: C Open Auction: CY for calls/PY for puts Electronic: OZC | ||
| Minimum Block Size | |||
| Product Calendar | Dec, Mar, May, Jul, Sep; 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 contract. For example, an August option exercises into a September futures position.
View current product listings |
General News & Announcements for Corn
Contracts Currently Eligible
to Trade
| Contract Month | Product Code | First Trade Date | Last Trade Date | Settlement Date | |
| JUN08 | CM08 | 03/24/2008 |  |
05/23/2008 | 05/23/2008 |
| JUL08 | CN08 | 02/16/2006 | |
06/20/2008 | 06/20/2008 |
| SEP08 | CU08 | 05/23/2006 | |
08/22/2008 | 08/22/2008 |
| DEC08 | CZ08 | 02/16/2006 | |
11/21/2008 | 11/21/2008 |
| MAR09 | CH09 | 03/19/2007 | |
02/20/2009 | 02/20/2009 |
| MAY09 | CK09 | 09/19/2007 | |
04/24/2009 | 04/24/2009 |
| JUL09 | CN09 | 07/26/2006 | |
06/26/2009 | 06/26/2009 |
| SEP09 | CU09 | 04/28/2008 | |
08/21/2009 | 08/21/2009 |
| DEC09 | CZ09 | 07/24/2006 | |
11/20/2009 | 11/20/2009 |
| MAR10 | CH10 | 03/20/2007 | |
02/19/2010 | 02/19/2010 |
| JUL10 | CN10 | 02/08/2007 | |
06/25/2010 | 06/25/2010 |
| DEC10 | CZ10 | 07/12/2007 | |
11/26/2010 | 11/26/2010 |
Contracts Not Yet Eligible to Trade
| Contract Month | Product Code | First Trade Date | Last Trade Date> | Settlement Date | |
| AUG08 | CQ08 | 05/27/2008 | |
07/25/2008 | 07/25/2008 |
| OCT08 | CV08 | 05/27/2008 | |
09/26/2008 | 09/26/2008 |
General News & Announcements for Corn
Product Overview
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Things to Know:
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Product Education
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