RANDOM LENGTH LUMBER OPTIONS - CONTRACT SPECS
| Contract Unit | 1 futures contract for 110,000 board feet | ||||
| Minimum Price Fluctuation |
0.10 per mbf = $11.00 Half Tick = 0.05 per mbf = $5.50 |
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| Price Quotation | U.S. dollars and cents per 1,000 board feet (mbf) | ||||
| Trading Hours | CME Globex: | Monday - Friday: 9:00 a.m. - 3:05 p.m. CT | Open Outcry: | Monday - Friday 9:00 a.m. -3:05 p.m. CT | 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: LBSCME ClearPort: LBOpen Outcry: Put: JL Call: KLClearing: LB | ||||
| Listed Contracts | Monthly contracts (Jan, Mar, May, Jul, Sep, Nov) listed for 5 months and 1 month of Feb, Apr, Jun, Aug, Oct, Dec | ||||
| Termination Of Trading | Trading terminates at 3:05 p.m. CT on the last business day of the month prior to the contract month, | ||||
| Position Limits | Non-Spot: 1,000 contracts in any contract month Spot: n/a All months combined: n/a See CME Rule 201A01.F. |
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| Exchange Rulebook | 201A | ||||
| Block Minimum | Block Minimum Thresholds | ||||
| Vendor Codes | Quote Vendor Symbols Listing | ||||
| Strike Price Listing Procedures | Strikes listed for 50% of the underlying settlement price above and below the at-the-money strike at $5 per 1,000 board feet (mbf) increments in all months | ||||
| Exercise Procedure | American style. See CME Rule 201A02. | ||||
| Settlement Method | Deliverable | ||||
| Underlying | Random Length Lumber Futures | ||||
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