EURODOLLAR OPTIONS - CONTRACT SPECS

Options
Contract Unit 1 Three-Month Eurodollar Futures contract
Minimum Price Fluctuation Options on the nearby furures expiry: 
1/4 of 1 basis point (0.0025 IMM Index point) = $6.25
 
1/4 of 1 basis point (0.0025 = $6.25) when option premium is no greater than five ticks and option contract month is any of nearest 2 March Quarterly months or nearest 4 Serial months.
 
1/2 of 1 basis point (0.005 = $12.50) for all other contract months.
 
Cabinet prices:  Any option may trade at a price of 0.0025 IMM Index points
Price Quotation U.S. dollars and cents per IMM index point
Trading Hours CME Globex: SUN-FRI: 5:00 p.m. - 4:00 p.m.
Open Outcry: MON - FRI: 7:20 a.m. - 2:00 p.m.
Product Code CME Globex: GE
CME ClearPort: ED
Open Outcry: Put: PE Call: CE
Clearing: ED
Listed Contracts Quarterly contracts (Mar, Jun, Sep, Dec) listed for 16 consecutive quarters and serial contracts listed for 4 months
Termination Of Trading Serial Trading terminates on Friday prior to the 3rd Wednesday of the contract month.
Quarterly Trading terminates at 11:00 a.m. London time, 2 London business days prior to the 3rd Wednesday of the contract month.
Position Limits CME Position Limits
Exchange Rulebook CME 452A
Block Minimum Block Minimum Thresholds
Price Limit Or Circuit Price Limits
Vendor Codes Quote Vendor Symbols Listing
Strike Price Listing Procedures Strike prices for the first 8 option (4 serial and 4 quarterly) months will be listed in intervals of 6.25 basis points (0.0625 price points) in a range of 150 basis points above and 150 basis points below the strike price closest to the previous daily settlement price for the underlying futures contract. Strike prices will be listed in intervals of 25 basis points (0.25 price points) in a range of 550 basis points above and 550 basis points below the strike price closest to the previous daily settlement price for the underlying futures contract.

All other options (back 14 quarterlies) and Mid Curve Options will be listed in intervals of 12.5 basis points (0.125) in a range of 150 basis points above and 150 basis points below the strike closest to the previous day's underlying futures settle price. Strike prices will be listed in intervals of 25 basis points (0.25) in a range of 550 basis points above and 550 basis points below the strike closest to the previous day's underlying futures settle price.
Exercise Style Options are American Style and are exercised by notifying the Clearing House by 5:30 p.m. CT on the day of exercise. Unexercised options shall expire at 5:30 p.m. CT on the last trading day. In-the-money options that have not been exercised shall be automatically exercised following expiration in the absence of contrary instructions.
Settlement Method Deliverable
Underlying Three-Month Eurodollar Futures

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