CHICAGO SRW WHEAT WEEKLY OPTIONS - CONTRACT SPECS

Contract Unit	1 futures contract for 5,000 bushels
Minimum Price Fluctuation	1/8 of one cent (0.00125) 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: OZW CME ClearPort: W Open Outcry: Put: WZ Call: WY Clearing: W
Listed Contracts	Monthly contracts listed for 3 consecutive months, 6 monthly contracts of Mar, May, Jul, Sep, Dec and an additional Jul contract month listed in July.
Termination Of Trading	Trading terminates on Friday which precedes, by at least 2 business days, the last business day of the month prior to the contract month.
Position Limits	CBOT Position Limits
Exchange Rulebook	CBOT 14A
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 five (5) cents and ten (10) cents per bushel. More details on strike price intervals are outlined in Rule 14A01.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 5:30 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	Wheat Futures

Contract Unit	1 futures calendar spread for 5,000 bushels
Minimum Price Fluctuation	1/8 cent (0.00125) 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: CZW CME ClearPort: WZC Open Outcry: WZC Clearing: WZC
Listed Contracts	5 successive futures calendar spreads
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 14D
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 Wheat 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 Wheat Calendar Spread option contract. More details on strike price intervals are outlined in Rule 14D01.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 5:30 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	Wheat Futures

Contract Unit	One long Chicago SRW Wheat futures contract (of a specified month) consisting of 5,000 bushels, and one short Wheat futures contract (of a differing specified month) consisting of 5,000 Bushels.
Minimum Price Fluctuation	1/8 of one cent per bushel = $6.25 per contract
Price Quotation	The price basis shall be defined as the specified nearby Wheat futures contract month price minus the specified deferred Wheat 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
	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: CWZ CME ClearPort: WCZ Open Outcry: WCZ Clearing: WCZ
Listed Contracts	The nearest December-December Wheat 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. 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 14D
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 Wheat 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 Wheat Calendar Spread option contract. More details on strike price intervals are outlined in Rule 14D01.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 5:30 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	Wheat Futures

Contract Unit	One long Chicago SRW Wheat futures contract (of a specified month) consisting of 5,000 bushels, and one short Wheat futures contract (of a differing specified month) consisting of 5,000 Bushels.
Minimum Price Fluctuation	1/8 of one cent per bushel ($6.25 per contract)
Price Quotation	The price basis shall be defined as the specified nearby Wheat futures contract month price minus the specified deferred Wheat 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: WC6 CME ClearPort: CW6 Open Outcry: CW6 Clearing: CW6
Listed Contracts	The nearest December-July Wheat 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. 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 14D
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 Wheat 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 Wheat Calendar Spread option contract. More details on strike price intervals are outlined in Rule 14D01.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	Wheat Futures

Contract Unit	One long Chicago SRW Wheat futures contract (of a specified month) consisting of 5,000 bushels, and one short Wheat futures contract (of a differing specified month) consisting of 5,000 Bushels.
Minimum Price Fluctuation	1/8 of one cent per bushel = $6.25 per contract
Price Quotation	The price basis shall be defined as the specified nearby Wheat futures contract month price minus the specified deferred Wheat 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
	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: WCM CME ClearPort: CWM Open Outcry: CWM Clearing: CWM
Listed Contracts	The nearest July-December Wheat 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. 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 14D
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 Wheat 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 Wheat Calendar Spread option contract. More details on strike price intervals are outlined in Rule 14D01.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 5:30 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	Wheat Futures

Contract Unit	1 Chicago SRW Wheat Futures spread for 5,000 bushels
Minimum Price Fluctuation	1/8 of one cent (0.00125) 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: 12W CME ClearPort: CWN Open Outcry: CWN Clearing: CWN
Listed Contracts	1 Jul/Jul spread contract
Termination Of Trading	Trading terminates on the Friday that 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 14D
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 Wheat 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 Wheat Calendar Spread option contract. More details on strike price intervals are outlined in Rule 14D01.E.
Exercise Style	European
Settlement Method	Deliverable
Underlying	Wheat Futures

Contract Unit	One long Chicago SRW Wheat futures contract (of a specified month) consisting of 5,000 bushels, and one short Wheat futures contract (of a differing specified month) consisting of 5,000 Bushels.
Minimum Price Fluctuation	1/8 of one cent per bushel = $6.25 per contract
Price Quotation	The price basis shall be defined as the specified nearby Wheat futures contract month price minus the specified deferred Wheat 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
	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: WC3 CME ClearPort: CW3 Open Outcry: CW3 Clearing: CW3
Listed Contracts	March-July Wheat 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. 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 14D
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 Wheat 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 Wheat Calendar Spread option contract. More details on strike price intervals are outlined in Rule 14D01.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 5:30 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	Wheat Futures

Contract Unit	1 futures contract for 5,000 bushels
Minimum Price Fluctuation	1/8 of one cent (0.00125) per bushel = $6.25
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: OWD CME ClearPort: WDF Open Outcry: WDF Clearing: WDF
Listed Contracts	6 monthly contracts listed in the Dec, Mar, May cycle. List a new set of contract months (Dec, Mar, May) after the termination of trading in the September contract of the current year. Underlying Rule: Dec, Mar and May exercise into July futures.
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 14A
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 14A01.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 5:30 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	Wheat Futures

Contract Unit	1 futures contract for 5,000 bushels
Minimum Price Fluctuation	1/8 of one cent (0.00125) 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: ZW1,ZW2,ZW3,ZW4,ZW5 CME ClearPort: WZ1,WZ2,WZ3,WZ4,WZ5 Open Outcry: WZ1,WZ2,WZ3,WZ4,WZ5 Clearing: WZ1,WZ2,WZ3,WZ4,WZ5
Listed Contracts	Weekly contracts listed for 3 consecutive weeks. No weekly contract listed the week of the monthly option expiration.
Termination Of Trading	Trading terminates on Friday of the contract week.
Exchange Rulebook	CBOT 14A
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 14A01.E.
Exercise Style	American
Settlement Method	Deliverable
Underlying	Wheat Futures

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CHICAGO SRW WHEAT WEEKLY OPTIONS - CONTRACT SPECS

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