| Contract Size |
One Soybean Meal futures contract (of a specified month) of 100 short tons |
|
Tick Size (minimum fluctuation)
|
5 cents per short ton ($5 per contract) |
| Strike Price Intervals |
$5 per short ton when strike price is less than $200 per short ton; $10 per short ton when strike price is $200 per short ton or over. More details on strike price intervals are outlined in Rule 13A01.E. |
| Contract Months (Symbols) |
January (F), March (H), May (K), July (N), August (Q), September (U), October (V) & 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 contract. For example, an October option exercises into a November futures position. |
| Daily Price Limit |
$20 per short ton expandable to $30 and then to $45 when the market closes at limit bid or limit offer. There shall be no price limits on the last trading day. |
| Last Trade Date |
For standard option contracts: The last Friday preceding the first notice day of the corresponding Soybean Meal futures contract month by at least two business days.
For serial option contracts: The last Friday which precedes by at least two business days the last business day of the month preceding the option month. |
| 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 Soybean Meal futures options shall expire at 7:00 p.m. on the last day of trading. |
| Trading Hours |
CME Globex (Electronic Platform)
6:00 pm - 7:15 am and 9:30 am - 1:15 pm Central Time, Sunday - Friday
Open Outcry (Trading Floor)
9:30 am - 1:15 pm Central Time, Monday - Friday
|
| Product Ticker Symbols |
CME Globex
OZM
06=Clearing
Open Outcry
MY for calls/MZ for puts
|
| Exchange Rule |
These contracts are listed with, and subject to, the rules and regulations of CBOT. |
