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Education
Learn why traders use futures, how to trade futures, and what steps you should take to get started.
Random Length Lumber Options Contract Specs
| Minimum Price Fluctuation |
Full Tick = 0.10 per mbf = $11.00 per contract; Half Tick = 0.05 per mbf = $5.50 per contract |
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| Price Quotation | Dollars 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 | |
| Product Code | CME Globex: LBSCME ClearPort: LBOpen Outcry: Put: JL Call: KLClearing: LB | ||||
| Listed Contracts | Regular | Jan, Mar, May, Jul, Sep, Nov | |||
| Serial | Feb, Apr, Jun, Aug, Oct, Dec | ||||
| Termination Of Trading | Trading terminates on the last business day of the prior month, 1:05 p.m. CT | ||||
| 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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Recommended For Agricultural Traders
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Quick Links
Contract Related
- Agricultural Options Open Interest Profile Tool
- Agriculture RFQ Contact Directory
- QuikStrike Options Pricing and Analysis
- Request for Cross
- Cash-Settled Futures
Resources
CME Group is the world's leading and most diverse derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.
Contact Us
View AllCME Group / Chicago HQ
Phone: +1 312 930 1000
Toll Free (US Only): +1 866 716 7274
