Asset Class Navigation

10-Year T-Note Options Contract Specs

Underlying Unit One 10-Year U.S. Treasury Note futures contract of a specified delivery month.
Tick Size
(minimum fluctuation)
1/64 of a point ($15.625/contract), rounded to the nearest cent/contract. For cabinet transactions only, minimum tick sizes range from $1.00 to $15.00, in $1.00 increments per option contract.
Strike Prices Strike prices will be listed in increments of one-half of one point. The minimum strike price range will include the at-the-money strike price closest to the current futures price plus the next fifty consecutive higher and the next fifty consecutive lower strike prices.
Contract Months At least four consecutive contract months (three serial expirations and one quarterly expiration) plus the next four months in the March, June, September, and December quarterly cycle. Serials will exercise into the first nearby quarterly futures contract. Quarterlies will exercise into futures contracts of the same delivery period.
Last Trading Day The last Friday which precedes by at least two business days the last business day of the month preceding the option month. Trading in expiring options ceases at the close of the regular CME Globex trading session for the corresponding futures contract.
Exercise 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 are automatically exercised, unless specific instructions are given to CME Clearing by 6:00 p.m.
Expiration Unexercised options shall expire at 7:00 p.m. on the last trading day.
Position Limits None
Block Minimum Block Trade Minimums
All or None Minimum All or None Minimums
Rulebook Chapter CBOT Chapter 19A
Trading Hours
(All times listed are Central Time)
CME Globex SUN-FRI: 5:00 p.m. - 4:00 p.m.
Open Outcry MON - FRI: 7:20 a.m. - 2:00 p.m.
Ticker Symbol CME Globex OZN
Open Outcry Calls: TC  Puts: TP.
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of CBOT.