Contract Size

One CBOT Soybean futures contract (of a specified contract month) of 5,000 bushels

Tick Size

1/8 cent/bu ($6.25/contract)

Strike Price Intervals

10 cents per bushel for the first two months, 20 cents per bushel for all other months. At the commencement of trading, list 5 strikes above and 5 below the at-the-money strike.

Contract Months

Sep, Nov, Jan, Mar, May, Jul, Aug; 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 October option exercises into a November futures position.

Last Trading Day

For standard option contracts: The last Friday preceding the first notice day of the corresponding soybeans 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 service provider by 6:00 p.m. Chicago time. Option exercise results in an underlying futures market position prior to the open of the next open auction session. Options in-the-money on the last day of trading are automatically exercised.

Expiration

Unexercised Soybean futures options shall expire at 7:00 p.m. on the last day of trading.

Trading Hours

Electronic: 6:00 p.m. - 6:00 a.m. and 9:30 a.m. - 1:15 p.m. Central Time, Sun.-Fri.

Open Auction: 9:30 a.m. - 1:15 p.m. Central Time, Mon-Fri.

Ticker Symbols

Open Auction: CZ for calls / PZ for puts

Electronic: OZS

Daily Price Limit

Seventy cents ($0.70) per bushel ($2,500/contract) above or below the previous days settlement premium. Limits are lifted on the last trading day.