Short-Dated New Crop Soybean Options Contract Specs

Contract Unit	5,000 Bushels
Minimum Price Fluctuation	0.00125 per Bushel=$6.25
Price Quotation	U.S. dollars and 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: OSD CME ClearPort: SDF Open Outcry: SDF Clearing: SDF
Listed Contracts	Monthly cotracts listed for 24 months. Add 12 new contract months (Oct-Sep) after ternination of trading in the September contract of the current year. Underlying Rule: Jan-Sep excersise into the November contract of the current year. Oct-Dec excersise into the November contract of the following year.
Termination Of Trading	Trading terminates on Friday before 2nd last business day of the month before contract month, if that is not a business day then it is the business day before that.
Position Limits	CBOT Position Limits
Exchange Rulebook	CBOT 11A
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 ten (10) cents per bushel. More details on strike price intervals are outlined in Rule 11A01.E.
Exercise Style	American
Settlement Method	Deliverable
Underlying	Soybean Futures

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Short-Dated New Crop Soybean Options Contract Specs

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Contract Unit	One Soybean futures contract (of a specified month) 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: OZS CME ClearPort: S Open Outcry: Put: PZ Call: CZ Clearing: S
Listed Contracts	Monthly contracts listed for 3 consecutive months and 9 months of January, March, May, July, August, September and November plus next available November.
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. Trading in expiring options ceases at the close of the regular CME Globex trading session for the corresponding futures contract.
Position Limits	CBOT Position Limits
Exchange Rulebook	CBOT 11A
Block Minimum	Block Minimum Thresholds
Price Limit Or Circuit	Price Limits
Vendor Codes	Quote Vendor Symbols Listing
Strike Price Listing Procedures	Trading shall be conducted for put and call options with striking prices in integral multiples of ten (10) cents and twenty (20) cents per bushel. More details on strike price intervals are outlined in Rule 11A01.E.
Exercise 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	Soybean Futures

Contract Unit	One long Soybean futures contract (of a specified month) consisting of 5,000 bushels, and one short Soybean futures contract (of a differing specified month) consisting of 5,000 Bushels.
Minimum Price Fluctuation	1/8 of one cent per bushel = $6.25
Price Quotation	The price basis shall be defined as the specified nearby Soybean futures contract month price minus the specified deferred Soybean futures contract month price.
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: SZ4 CME ClearPort: SC4 Open Outcry: SC4 Clearing: SC4
Listed Contracts	The nearest August-November (1 year) Soybean futures spread.
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 11E
Block Minimum	Block Minimum Thresholds
Vendor Codes	Quote Vendor Symbols Listing
Strike Price Listing Procedures	Trading shall be conducted for put and call options on futures calendar spreads consisting of the nearby futures month and the next available futures month (nearby spreads) with strike prices in integral multiples of one cent per bushel per Soybean Calendar Spread option contract. Trading shall be conducted for put and call options on futures calendar spreads consisting of the nearby futures month and a futures month beyond the next available futures month (longer dated spreads) with strike prices in integral multiples of five cents per bushel per Soybean Calendar Spread option contract. More details on strike price intervals are outlined in Rule 11E01.E.
Exercise Style	American
Settlement Method	Deliverable
Underlying	Soybean Futures

Contract Unit	1 Soybean Futures calendar spread
Minimum Price Fluctuation	1/8 of one cent per bushel = $6.25
Price Quotation	U.S. dollars and 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 - Friday 6:00 p.m. - 5:45 p.m. (7:00 p.m. – 6:45 p.m. ET) with a 15-minute break each day beginning at 5:45 p.m. (6:45 p.m. ET).
Product Code	CME Globex: CZS CME ClearPort: ZSC Open Outcry: ZSC Clearing: ZSC
Listed Contracts	7 calendar spreads in the Sep-Nov, Nov-Jan, Jan-Mar, Mar-May, May-Jul, Jul-Aug, Aug-Sep cycle
Termination Of Trading	Trading terminates on the Friday before the 2nd last business day of the month prior to the contract month.
Position Limits	CBOT Position Limits
Exchange Rulebook	CBOT 11E
Vendor Codes	Quote Vendor Symbols Listing
Strike Price Listing Procedures	Trading shall be conducted for put and call options on futures calendar spreads consisting of the nearby futures month and the next available futures month (nearby spreads) with strike prices in integral multiples of one cent per bushel per Soybean Calendar Spread option contract. Trading shall be conducted for put and call options on futures calendar spreads consisting of the nearby futures month and a futures month beyond the next available futures month (longer dated spreads) with strike prices in integral multiples of five cents per bushel per Soybean Calendar Spread option contract. More details on strike price intervals are outlined in Rule 11E01.E.
Exercise Style	American
Settlement Method	Deliverable
Underlying	Soybean Futures

Contract Unit	one 5,000 bushel calendar spread
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: SZH CME ClearPort: KSH Open Outcry: KSH Clearing: KSH
Listed Contracts	1 March-July spead
Termination Of Trading	Trading terminates on the Friday prior to the 2nd last business day of the month prior to the contract month
Position Limits	CBOT Position Limits
Exchange Rulebook	CBOT 11E
Block Minimum	Block Minimum Thresholds
Vendor Codes	Quote Vendor Symbols Listing
Strike Price Listing Procedures	Trading shall be conducted for put and call options on futures calendar spreads consisting of the nearby futures month and the next available futures month (nearby spreads) with strike prices in integral multiples of one cent per bushel per Soybean Calendar Spread option contract. Trading shall be conducted for put and call options on futures calendar spreads consisting of the nearby futures month and a futures month beyond the next available futures month (longer dated spreads) with strike prices in integral multiples of five cents per bushel per Soybean Calendar Spread option contract. More details on strike price intervals are outlined in Rule 11E01.E.
Exercise Style	The buyer of a futures calendar spread option may exercise the option only upon 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 absent contrary instructions.
Settlement Method	Deliverable
Underlying	Soybean Futures