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Oats Options Specifications

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Options Contract Specifications

The oats contract specifications tell you how the oats options trade, not how to trade oats options. Before you consider opening a commodity options account you should consult with a licensed commodities broker.

Oats Options
Contract Size

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

Tick Size

1/8 cent/bushel ($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 are listed.

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 oats 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.


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 after the close on the last trading day are automatically exercised.


Unexercised Oats 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: OO for calls/OV for puts

Electronic: OZO

Daily Price Limit

Twenty cents ($0.20) per bushel ($1,000/contract) above or below the previous day's settlement premium. Limits are lifted on the last trading day.

Grains And Soybean Futures And Options

Click on the link above to download a printable .pdf booklet entitled “An Introduction to Grains And Soybean Futures and Options”. It is published by the Chicago Board of Trade. It is a must read guide for any novice or advanced trader considering an investment in the oats options.

Commodity trading is not suitable for everyone. The risk of loss in trading can be substantial. This material has been prepared by a sales or trading employee or agent of Van Commodities, Inc. and is, or is in the nature of, a solicitation. This material is not a research report prepared by Van Commodities, Inc. Research Department. Please view our Risk Disclosure.

© 2011 Van Commodites, Inc. All Rights Reserved