Corn Futures
| Deliverable
Grades |
| No. 2
Yellow at par, No. 1 yellow at 1 1/2 cents per bushel over contract
price, No. 3 yellow at 1 1/2 cents per bushel under contract price |
|
| Tick
Size |
| 1/4
cent/bu ($12.50/contract) |
|
| Price
Quote |
| Cents
and quarter-cents/bu |
|
| Contract
Months |
| Dec,
Mar, May, Jul, Sep |
|
| Last
Trading Day |
| The
business day prior to the 15th calendar day of the contract
month. |
|
| Last
Delivery Day |
| Second
business day following the last trading day of the delivery
month. |
|
| Trading
Hours |
Open
Outcry: 9:30 a.m. - 1:15 p.m. Chicago time, Mon-Fri.
Electronic (a/c/e): 8:30 p.m. - 6:00 a.m. Chicago time,
Sun.-Fri. Trading in expiring contracts closes at noon on
the last trading day. |
|
| Ticker
Symbols |
Open
Outcry: C
Electronic (a/c/e): ZC |
|
| Daily
Price Limit |
| 20
cents/bu ($1,000/contract) above or below the previous
day's settlement price. No limit in the spot month
(limits are lifted two business days before the spot
month begins). |
Corn
Options
| Trading
Unit |
| One
CBOT Corn futures contract (of a specified
contract month) of 5,000 bu |
|
| Tick
Size |
| 1/8
cent/bu ($6.25/contract) |
|
| Strike
Price Intervals |
| 5
cents/bu for the first two months and
10 cents/bu for all other months. At
the commencement of trading, list 5
strikes above and 5 strikes below the
at-the-money. |
|
| Contract
Months |
| Dec,
Mar, May, Jul, Sep; a monthly
(serial) option contract is listed
when the front month is not a
standard option contract. The
monthly option contract exercises
into the nearby futures contract.
For example, an August option
exercises into a September futures
position. |
|
| Last
Trading Day |
For
standard option contracts: The
last Friday preceding the first
notice day of the corresponding
corn futures contract month by at
least two business days.
For serial option contracts: The
last Friday which precedes by at
least two business days the last
business day of the month
preceding the option month. |
|
| Exercise |
| The
buyer of a futures option may
exercise the option on any
business day prior to expiration
by giving notice to the Board of
Trade Clearing Corporation by
6:00 p.m. Chicago time. Option
exercise results in an
underlying futures market
position. Options in-the-money
on the last day of trading are
automatically exercised. |
|
| Expiration |
| Unexercised
options expire at 10:00 a.m.
Chicago time on the first
Saturday following the last
day of trading. |
|
| Trading
Hours |
Open
Outcry: 9:30 a.m. - 1:15
p.m. Chicago time, Mon-Fri.
Electronic (a/c/e): 8:30
p.m. - 6:00 a.m. Chicago
time, Sun.-Fri. Trading in
expiring contracts closes at
the same time as the
underlying futures contract
(1:15 p.m.) on the last
trading day. |
|
| Ticker
Symbols |
Open
Outcry: CY for calls/PY
for puts
Electronic (a/c/e): OZC |
|
| Daily
Price Limit |
| 20
cents/bu
($1,000/contract) above
or below the previous
day's settlement
premium. Limits are
lifted on the last
trading day. |
|
|
|
|
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