Class IV Milk Options Contract Specs

Contract Unit	200,000 pounds
Minimum Price Fluctuation	Full Tick: 0.01 per cwt = $20.00 Half tick: 0.005 per cwt = $10.00
Price Quotation	U.S. dollars and cents per hundred weight
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:	Monday - Friday: 9:05 a.m. - 1:12 p.m. (LTD 12:10 p.m.)
Product Code	CME Globex: GDK CME ClearPort: DK Open Outcry: DK Clearing: DK
Listed Contracts	Monthly contracts listed for 24 consecutive months
Termination Of Trading	Trading terminates at 12:10 p.m. CT on the business day immediately preceding the day on which the USDA announces the Class IV price for that contract month.
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

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