RANDOM LENGTH LUMBER OPTIONS - CONTRACT SPECS

Options
Contract Unit 1 futures contract for 110,000 board feet
Minimum Price Fluctuation Outright: 0.10 per mbf = $11.00
HALF TICK 0.05 per mbf = $5.50
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: LBS
CME ClearPort: LB
Open Outcry: Put: JL Call: KL
Clearing: 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.
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