Dry Whey Options Contract Specs

Minimum Price Fluctuation	Full TIck: $0.00025 per pound (= $11.00 per contract) Half Tick: $0.000125 per pound (= $5.50 per contract)
Price Quotation	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.)
Product Code	CME Globex: DY CME ClearPort: DY Open Outcry: DY Clearing: DY
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 Dry Whey price for that contract month. (LTD 12:10 p.m.)
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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