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30 Day Federal Funds Options Contract Specs

Options
Minimum Price Fluctuation One-quarter of one basis point (0.0025), or $10.4175 per contract.
Trading Hours CME Globex: Sunday - Friday : 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m.CT) with a 60-minute break each day  beginning at 5:00 p.m.(4:00 p.m. CT)
Open Outcry: MON - FRI: 7:20 a.m. - 2:00 p.m.
Product Code CME Globex: OZQ
CME ClearPort: 41
Open Outcry: Put: FFP Call: FFC
Clearing: 41
Listed Contracts First 24 calendar months.
Termination Of Trading Default: Last business day of the delivery month. Trading in expiring options ceases at the close of the regular CME Globex trading session for the corresponding futures contract.

Unexercised options shall expire at 7:00 p.m. on the business day following the last trading day.
Mid-Curve Last business day of the delivery month. Trading in expiring options ceases at the close of the regular CME Globex trading session for the corresponding futures contract.
Position Limits CBOT Position Limits
Exchange Rulebook CBOT Chapter 22A
Block Minimum Block Minimum Thresholds
Price Limit Or Circuit Price Limits
Vendor Codes Quote Vendor Symbols Listing
Strike Price Listing Procedures Strike prices will be listed in increments of 6.25 basis points (0.0625) and 12.5 basis points (0.1250). The following strike prices in increments of 6.25 basis points will be listed: the at-the-money strike price closest to the current futures price plus the next ten consecutive higher and the next ten consecutive lower strike prices. Above and below this band, the following strike prices in increments of 12.5 basis points shall be listed: the next five (5) consecutive higher and the next five (5) consecutive lower strike prices.
Exercise Style American-style. The buyer of an option may exercise the option on any business day prior to expiration by giving notice to CME Clearing by 6:00 p.m. Options that expire in-the-money after the close on the last trading day shall be automatically exercised on the business day following the last trading day, unless specific instructions are given to CME Clearing by 6:00 p.m.
Settlement Method Deliverable
Underlying 30 Day Federal Funds Futures