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Random Length Lumber Options Contract Specs

Options
Minimum Price Fluctuation Full Tick = 0.10 per mbf = $11.00 per contract;
Half Tick = 0.05 per mbf = $5.50 per contract
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: 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, 3:05 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.
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