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Short-Dated New Crop Corn Options Contract Specs

Options
Contract Unit One new crop Corn futures contract (December) of 5,000 bushels
Minimum Price Fluctuation 1/8 of one cent per bushel ($6.25 per contract)
Trading Hours CME Globex: Sunday – Friday, 7:00 p.m. – 7:45 a.m. CT and
Monday – Friday, 8:30 a.m. – 1:20 p.m. CT
Open Outcry: Monday – Friday, 8:30 a.m. – 1:15 p.m.
CT with Post session until 1:20 p.m. CT immediately following the close
Product Code CME Globex: OCD
CME ClearPort: CDF
Open Outcry: CDF
Clearing: CDF
Listed Contracts Monthly cotracts listed for 24 months. Add 12 new contract months (Oct-Sep) after termination of trading in the September contract of the current year.

Underlying Rule: Jan-Sep excersise into the December contract of the current year. Oct-Dec excersise into the December contract of the following year.
Termination Of Trading Trading terminates on the Friday before 2nd last business day of the month prior to the contract month.
Position Limits CBOT Position Limits
Exchange Rulebook CBOT 10A
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing
Strike Price Listing Procedures Trading shall be conducted for put and call options with strike prices in integral multiples of five (5) cents per bushel. More details on strike price intervals are outlined in Rule 10A01.E.
Exercise Style American-style. The buyer of a futures option may exercise the option on any business day prior to expiration by giving notice to the Clearing House by 6:00 p.m. Chicago time. Option exercise results in an underlying futures market position. Options in-the-money on the last day of trading are automatically exercised.
Settlement Method Deliverable
Underlying Corn Futures

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