MGEX-CHICAGO SRW WHEAT SPREAD OPTIONS - CONTRACT SPECS
| Contract Unit | 5,000 bushels | ||||
| Minimum Price Fluctuation | 1/8 of one cent per bushel = $6.25 | ||||
| Price Quotation | U.S. cents per bushel | ||||
| 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 |
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: MCWCME ClearPort: MCGOpen Outcry: MCGClearing: MCG | ||||
| Listed Contracts | MGEX July vs. CBOT July MGEX September vs. CBOT July MGEX December vs. CBOT December |
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| Termination Of Trading | Trading terminates on the last Friday which precedes by at least two business days the last business day of the month prior to the contract month. | ||||
| Position Limits | CBOT Position Limits | ||||
| Exchange Rulebook | CBOT 14E | ||||
| Vendor Codes | Quote Vendor Symbols Listing | ||||
| Strike Price Listing Procedures | Strike prices will be listed in increments of five cents per bushel. The minimum strike price range will include the strike price closest to the current MGEX-CBOT futures spread price, plus the next ten consecutive higher and the next ten consecutive lower strike prices. | ||||
| Exercise Style | European-style. The buyer of an MGEX-CBOT Wheat Spread option that is in-the-money after the close on the last trade day will be cash settled to the final settlement price. | ||||
| Settlement Method | Deliverable | ||||
| Underlying | MGEX-CBOT Wheat Spread Synthetic Futures | ||||
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