Minimum Price Fluctuation Quoted in IMM Index points.
One-half of one basis point (0.005 = $12.50) for all contract months.
Cabinet prices:  Any option may trade at a price of 0.0025 IMM Index points, whether or not such trade results in liquidation of positions for both parties to the trade.
Trading Hours CME Globex: Sunday 5:00 p.m. - Friday - 4:00 p.m. CT with a 60-minute break each day beginning at 4:00 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
Open Outcry: 7:20 a.m. - 2:00 p.m. CT
Product Code CME Globex: S01,S02,S03,S04,S05
CME ClearPort: S01,S02,S03,S04,S05
Open Outcry: S01,S02,S03,S04,S05
Clearing: S01,S02,S03,S04,S05
Listed Contracts Weekly contracts listed for 2 consecutive weeks.  No weekly contract listed the same week as the quarterly or serial expiry.
Termination Of Trading Trading terminates each Friday that is not an expiration day for a Quarterly or Serial Option.
Position Limits CME Position Limits
Exchange Rulebook CME 460A
Block Minimum Block Minimum Thresholds
Price Limit Or Circuit Price Limits
Vendor Codes Quote Vendor Symbols Listing
Strike Price Listing Procedures Strike prices will be listed in intervals of 6.25 basis points (0.0625 price points) for the first150 basis points around the At The Money (ATM) for all available contracts
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.
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 SOFR Futures

About Three-Month SOFR

CME SOFR futures offer the leading source of price discovery and liquidity on the Secured Overnight Financing Rate (SOFR), a broad measure of the cost of borrowing cash overnight collateralized by Treasury securities. Three-Month SOFR futures are cash settled and based on a business-day compounded SOFR per annum during contract Reference Quarter. 

More on SOFR

Learn about SOFR futures and stay informed of developments within the broader ecosystem including the latest cash issuance tied to SOFR.

CME SOFR Futures

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