Tools
Recent Open Auction
CBOT Contract Changes Spell New Trading Opportunities
Spread Trading: The Effect of the Change in Notional Coupon
Spread Trading: The Effect of the Change in Notional Coupon
30 Day Fed Funds Futures Options
| Contract Size |
|
One (1) 30-Day Fed Fund futures contract of a specified contract month. |
| Tick Size |
| One-quarter of one basis point (0.0025 on a price basis of 100), or $10.4175 per contract. |
| Strike Price Intervals |
| Strike prices will be listed in integral multiples of 6.25 (.0625) basis points and 12.5 (.1250) basis points. At the commencement of trading, the following strikes in multiples of 6.25 basis points shall be listed: one with a strike price closest to the previous day's settlement price of the underlying CBOT® 30-Day Federal Funds futures contract (rounded to the nearest 12.5 basis points) and the next the next ten (10) consecutive higher and the next ten (10) consecutive lower strike prices closest to the previous day's settlement price. If a previous day's settlement price is midway between two strike prices, the closest price shall be the larger of the two. In addition, the following strike prices in multiples of 12.5 basis points shall be listed: the next five (5) consecutive higher and the next five (5) consecutive lower strike prices above and below the 6.25 basis point band. |
| Contract Months |
|
First 24 calendar months |
| Last Trading Day |
| Options cease trading on the last business day of the underlying contract month. Options cease trading at the close of the regular daytime open auction trading session for the underlying 30-Day Fed futures contract. |
| Exercise |
| The buyer of a futures option may exercise on any business day up to and including the day such option expires, by giving notice of exercise by 6:00 pm, Central Time, to the Board of Trade clearing service provider. All in-the-money options shall be automatically exercised after 6:00 pm on the business day following the last day of trading unless notice to cancel automatic exercise is given to the clearing service provider. |
| Expiration |
| Unexercised options on 30-Day Fed Funds futures shall expire at 7:00 pm, Central Time, on the next business day following the last day of trading. |
| Trading Hours |
| Open Auction: 7:20 am - 2:00 pm, Chicago Time, Monday - Friday Electronic: 6:02 pm - 4:00 pm, Chicago Time, Sunday - Friday |
| Ticker Symbols |
| Open Auction: FFC for calls / FFP for puts Electronic: OZQC for calls / OZQP for puts |
| Daily Price Limit |
| None |
| Margin Information |
| Find information on margins requirements for the 30 Day Fed Funds Futures Options. |
©2008 Chicago Board of Trade. All rights reserved. Investor Relations | Site Map | Legal | Contact Us | 
| Subscriptions
| Subscriptions