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2-Year T-Note Options Contract Specs

Options
Contract Unit Face value at maturity of $200,000
Minimum Price Fluctuation One-half of 1/64 of a point = $15.625.
Variable CAB at $1.00 increments from $1.00 to $15.00
Price Quotation Points and fractions of points with par on the basis of 100 points
Trading Hours CME Globex: Sunday - Friday: 5:00 p.m. - 4:00 p.m. CT
Open Outcry: Monday - Friday: 7:20 a.m. - 2:00 p.m. CT
Product Code CME Globex: OZT
CME ClearPort: 26
Open Outcry: Put: TUP Call: TUC
Clearing: 26
Listed Contracts Quarterly contracts (Mar, Jun, Sep, Dec)  listed for 3 quarters and 3 serial contracts
Serials exercise into the first nearby quarterly futures contract
Quarterlies exercise into the corresponding futures contracts
Termination Of Trading Trading terminates on the Friday before the 2nd last business day of the month prior to the contract month. If this is not a business day, trading terminates on the prior business day.
Position Limits CBOT Position Limits
Exchange Rulebook CBOT Chapter 21A
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 increments of one-eighth of one point. The minimum strike price range will include the at-the-money strike price closest to the current futures price plus the next twenty (20) consecutive higher and the next twenty (20) consecutive lower strike prices.
Exercise Style American-style. The buyer of an option may exercise the option on any business day prior to expiration by giving notice to CME Clearing by 6:00 p.m. Options that expire in-the-money after the close on the last trading day are automatically exercised, unless specific instructions are given to CME Clearing by 6:00 p.m.
Settlement Method Deliverable
Underlying 2-Year T-Note Futures

2-Year Note Yield Curve Analytics

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