CASH-SETTLED CHEESE OPTIONS - CONTRACT SPECS

Options
Contract Unit 1 futues contract for 20,000 pounds
Minimum Price Fluctuation Outright: 0.001 per pound = $20.00
HALF TICK 0.0005 per pound = $10.00
Price Quotation U.S. dollars and cents per pound
Trading Hours CME Globex: Sundays 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.
Open Outcry: MON-FRI: 9:05 a.m. - 1:12 p.m. (LTD 12:10 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
Product Code CME Globex: CSC
CME ClearPort: CSC
Open Outcry: CSC
Clearing: CSC
Listed Contracts Monthly contracts listed for 24 consecutive months
Termination Of Trading Trading terminates at 12:10 p.m . CT on the business day prior to the USDA announcement of the weighted average price for Cheese.
Position Limits CME Position Limits
Exchange Rulebook CME 60A
Block Minimum Block Minimum Thresholds
Price Limit Or Circuit Price Limits
Vendor Codes Quote Vendor Symbols Listing
Strike Price Listing Procedures Strikes listed for 50% of the underlying settlement price above and below the at-the-money strike at $0.025 per pound increments in all months.
Exercise Procedure Any business day that the option is traded until 5:30 p.m.
Settlement Method Deliverable
Underlying Cheese Futures