GRAINS CONTRACTS

Corn | Soybean | Wheat | Oats

Oats Contracts Overview | Quote-board

FUTURES

OPTIONS

Contract Size 5,000 bu Deliverable Grades No. 2 Heavy and No. 1 at par. No. 1 Extra Heavy at 7 cents per bushel over contract price. No. 2 Extra Heavy at 4 cents per bushel over contract price, and No. 1 Heavy at 3 cents per bushel over contract price. Tick Size 1/4 cent/bu ($12.50/contract) Price Quote Cents and quarter-cents/bu Contract Months Jul, Sep, Dec, Mar, May Last Trading Day The business day prior to the 15th calendar day of the contract month. Last Delivery Day Seventh business day following the last trading day of the delivery month. Trading Hours Open Auction: 9:30 a.m. - 1:15 p.m. Central Time, Mon-Fri. Electronic: 7:33 p.m. - 6:00 a.m. Central Time, Sun.-Fri. Trading in expiring contracts closes at noon on the last trading day. Ticker Symbols Open Auction: O Electronic: ZO 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).

Contract Size One CBOT® Oat 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 per bushel for the first two months and 10 cents per bushel for all other months. At the commencement of trading, list 5 strikes above and 5 below the at-the-money. Contract Months Jul, Sep, Dec, Mar, May; a monthly (serial) option contract is listed when the front month is not a standard option contract. This 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 rough rice 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 Option buyers may exercise an option contract on any business day prior to expiration by giving notice to the clearinghouse by 6:00 p.m. Chicago time on such day. Exercised options are randomly assigned to option sellers. Options in-the-money after the close on the last trading day are automatically exercised.   Expiration Unexercised Oats futures options shall expire at 7:00 p.m. on the last day of trading. Trading Hours Open Auction: 9:30 a.m. - 1:15 p.m. Central Time, Mon-Fri. Electronic: 7:35 p.m. - 6:00 a.m. Central 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 Auction: OO for calls/OV for puts Electronic: OZO 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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