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MGEX-Chicago SRW Wheat Spread Options Contract Specs

Options
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
Product Code CME Globex: MCW
CME ClearPort: MCG
Open Outcry: MCG
Clearing: MCG
Listed Contracts MGEX July vs. CBOT July
MGEX September vs. CBOT July
MGEX December vs. CBOT December
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