DRY WHEY OPTIONS - CONTRACT SPECS
| Contract Unit | 1 futures contract for 44,000 pounds | ||||
| Minimum Price Fluctuation | Outright: | 0.00025 per pound = $11.00 | |||
| HALF TICK | 0.000125 per pound = $5.50 | ||||
| Price Quotation | U.S. 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: DYCME ClearPort: DYOpen Outcry: DYClearing: DY | ||||
| 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 Dry Whey. | ||||
| Position Limits | CME Position Limits | ||||
| Exchange Rulebook | CME 57A | ||||
| 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 $0.01 per pound increments in all months and additional strikes listed for 25% of the underlying settlement price above and below the at-the-money strike at $0.005 per pound increments in the nearest 2 months. | ||||
| Exercise Procedure | American Style See CME Rule 57A02 | ||||
| Settlement Method | Deliverable | ||||
| Underlying | Dry Whey Futures | ||||
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