One CBOT Soybean futures contract (of a specified contract month) of 5,000
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.
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
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.
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.
Unexercised Soybean futures options shall expire at 7:00 p.m. on the last day of trading.
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.
Open Auction: CZ for calls / PZ for puts
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.