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30 Day Federal Funds 12 Month Midcurve 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: ZQ1
CME ClearPort: FF1
Open Outcry: FF1
Clearing: FF1
Listed Contracts First 3 calendar months.
Termination Of Trading Default: Unexercised options shall expire at 7:00 p.m., CT, on their last trading day.

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.
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., CT. Following the termination of trading of an option, no contrary option exercise instructions are permitted. All in-the-money options shall be automatically exercised and all out-of-the-money options shall be abandoned by CME Clearing on the day of expiration for the option. At-the-money options will be considered out-of-the-money.
Settlement Method Deliverable
Underlying 30 Day Federal Funds Futures