Class IV Milk Options Contract Specs

Minimum Price Fluctuation	Full Tick: $0.01 per cwt (= $20.00 per contract) Half tick: $0.005 per cwt (= $10.00 per contract)
Price Quotation	Dollars per hundred weight (cwt.)
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.)
Product Code	CME Globex: GDK CME ClearPort: DK Open Outcry: DZ Clearing: DK
Listed Contracts	Monthly contracts listed for 24 consecutive months
Termination Of Trading	Trading terminates on the business day immediately preceding the day on which the USDA announces the Class IV price for that contract month. (LTD 12:10 p.m.)
Position Limits	CME Position Limits
Exchange Rulebook	CME 55A
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 $0.0025 per pound increments in all months.
Exercise Procedure	American Style See CME Rule 55A02
Settlement Method	Deliverable
Underlying	Class IV Milk Futures

Quick Links

Trade this Product

Tools

Send Us Feedback

Who We Are

CME Group is the world's leading and most diverse derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.