Random Length Lumber Options Contract Specs

Minimum Price Fluctuation	Full Tick = $.10 per mbf (=$11 per contract); Half Tick = $.05 per mbf (=$5.50 per contract)
Price Quotation	Dollars per 1,000 board feet (mbf)
Trading Hours	CME Globex:	Monday - Thursday 9:00am - 4:00pm CT Friday 9:00am - 1:55pm CT
	Open Outcry:	Monday - Friday 9:00 a.m. -1:07 p.m. CT
Product Code	CME Globex: LBS CME ClearPort: LB Open Outcry: Put: JL Call: KL Clearing: 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.
Position Limits	Non-Spot: 1,000 contracts in any contract month Spot: n/a All months combined: n/a See CME Rule 201A01.F.
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

Recommended For Agricultural Traders

Send Us Feedback

Who We Are

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.