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Soybean Oil Options Specifications

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Options Contract Specifications

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

Soybean Oil Options

Contract Size

One CBOT Soybean Oil futures contract (of a specified contract month) of 60,000 lbs.

Tick Size

5/1000cent ($0.00005)/lb ($3/contract)

Strike Price Intervals

1/2 cent / lb when the strike price is less than 30 cents / lb; 1 cent / lb when the strike price is 30 cents / lb or greater. At the commencement of trading, list a consecutive series of strikes within 5.5 cents above and below the at-the-money strike.

Contract Months

Oct, Dec, Jan, Mar, May, Jul, Aug, 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, a November option exercises into a December futures position.

Last Trading Day

For standard option contracts: The last Friday preceding the first notice day of the corresponding soybean oil 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. Options in-the-money on the last day of trading are automatically exercised.


Unexercised Soybean Oil 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: OY for calls / OZ for puts

Electronic: OZL

Daily Price Limit

2.5 cents per pound ($1,500/contract) above or below the previous day's settlement price. Limits are lifted on the last trading day.

Click here to contact a licensed commodities broker with experience in the soybean oil market.

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.

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