Effective Sunday, May 19, 2019 for trade date Monday, May 20, 2019, and pending all relevant CFTC regulatory review periods, Chicago Mercantile Exchange Inc. will amend the Daily Settlement Procedure Document and Rule 20112.D. (“Daily Price Limits”) in connection with the Random Length Lumber Futures contract and the trading hours of the  Random Length Lumber Futures and Options on Random Length Lumber Futures contracts.

    Please see SER-8369 for details.

Asset Class Navigation

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