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| CME Milk Class IV Options |
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| CME Class IV Milk Options |
| Trade Unit |
One Class IV Milk Futures contract. |
| Point Descriptions |
1 point = $.01 per hundredweight = $20 per contract |
| Contract Listing |
Twenty-four consecutive months and Flex® Options.^^^^ |
| Strike Price Interval |
The exercise prices shall be stated in terms of dollars per cwt. For all contract months, exercise prices shall be at intervals of $.25; e.g., $11.75, $12.00, $12.25, etc.
At the commencement of option trading in a contract month, the Exchange shall list put and call options in a range of $4 above and below the previous day's settlement price of the underlying
futures contract.
When a sale, bid, offer, or settlement price in the underlying futures contract occurs at, or passes through an exercise price, the Exchange shall list on the next trading day put and call option contracts at the next higher (or next lower) exercise price within a $4 range above (or below) the exercise price at which or through which the underlying futures sale, bid, offer, or settlement price occurred. |
| Product Code |
Clearing=DK
Ticker=DK
Globex=GDK
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| Trading Venue: Floor |
| Hours |
9:20 a.m.-1:12 p.m.
LTD(12:10 p.m.)^ |
| Listed |
All listed series |
| Strike |
All listed intervals |
| Limits |
None |
| Minimum Fluctuation |
Regular |
0.01=$20.00 |
| Cab |
0.005=$10.00 |
| Trading Venue: CME® Globex® |
| Hours |
Mon-Thurs 9:05 a.m.-4:00 p.m. Shutdown period from 4:00 p.m.-5:00 p.m. ReOpen 5:00 p.m.-4:00 p.m. Friday, Close at 1:30 p.m.
(12:10 p.m.LTD) |
| Listed |
N/A |
| Strike |
N/A |
| Limits |
n/a |
| Minimum Fluctuation |
Regular |
0.01=$20.00 |
| Cab |
0.005=$10.00 |
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