ULTRA U.S. TREASURY BOND OPTIONS - CONTRACT SPECS

Options
Contract Unit 1 futures contract with face value at maturity of $100,000
Minimum Price Fluctuation Outright: 1/64 of a point (0.015625) = $15.625
CAB $1.00 increments from $1.00 - $15.00
Price Quotation Points and fractions of points with par on the basis of 100 points
Trading Hours CME Globex: SUN-FRI: 5:00 p.m. - 4:00 p.m. CT
Open Outcry: MON - FRI: 7:20 a.m. - 2:00 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
Product Code CME Globex: OUB
CME ClearPort: UBE
Open Outcry: OUL
Clearing: UBE
Listed Contracts Quarterly contracts listed for 3 consecutive quarters and serial contracts listed for 3 months
Termination Of Trading Trading terminates on the Friday before the 2nd last business day of the month prior to contract month.
Position Limits CBOT Position Limits
Exchange Rulebook CBOT 40A
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-half of one point for the nearest monthly (serial or quarterly) expiration. The minimum strike price range will include the at-the-money strike price closest to the current futures price plus the next forty (40) consecutive higher and the next forty (40) consecutive lower strike prices.  For all other months,  strike prices will be listed in increments 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 thirty (30) consecutive higher and the next thirty (30) 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 5:30 p.m., CT. 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 5:30 p.m., CT.
Settlement Method Deliverable
Underlying Long-Term U.S. Treasury Bond Futures

 

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