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Options on Block Cheese Futures Contract Specs

Contract Unit 1 futures contract for 20,000 pounds 
Minimum Price Fluctuation Full Tick: $0.001 per pound = $20.00 
Half tick: $0.0005 per pound = $10.00
Price Quotation U.S. dollars per pound
Trading Hours CME Globex: Sunday at 5:00 p.m. through Friday at 1:55 p.m. with daily trading halts from 4:00 p.m. to 5:00 p.m.
CME ClearPort: Sunday 5:00 p.m. - Friday 5:45 p.m. CT with no reporting Monday - Thursday from 5:45 p.m. – 6:00 p.m. CT
Open Outcry: MON-FRI: 9:05 a.m. - 1:12 p.m. (LTD 12:10 p.m.)
Product Code CME Globex: BLK
CME ClearPort: BLK
Open Outcry: OBK
Clearing: BLK
Listed Contracts Monthly contracts listed for 24 consecutive months
Termination Of Trading Trading terminates at 12:10 p.m. Central Time (CT) on the business day immediately preceding the release date for the USDA monthly weighted average price in the U.S. for cheese.
Position Limits CME Position Limits
Exchange Rulebook CME 61A
Block Minimum Block Minimum Thresholds
Price Limit Or Circuit Price Limits
Vendor Codes Quote Vendor Symbols Listing
Strike Price Listing Procedures Strikes listed for 35% of the underlying settlement price above and below the at-the-money strike at $0.025 per pound increments in all months
Exercise Style American
Settlement Method Deliverable
Underlying Block Cheese Futures