Contract Size

One CBOT Ethanol futures contract (of a specified contract month) of 29,000 gallons

Tick Size

0.001 cent/bushel ($29.00/contract)

Strike Price Intervals

5 cents/gallon. At the commencement of trading, 10 strikes above and 10 strikes below the at-the-money strike will be listed. In total, 21 strikes will be listed initially.

Contract Months

24 consecutive calendar months.

Last Trading Day

The last Friday preceding the first notice day of the corresponding ethanol futures contract month by at least two business days.

Exercise

The buyer of a futures option may exercise the option on any business day prior to expiration by giving notice to the Clearing House by 6:00 p.m. Central Time. Option exercise results in an underlying futures market position. Options in-the-money on the last day of trading are automatically exercised.

Expiration

Unexercised Ethanol futures options shall expire at 7:00 p.m. on the last day of trading.

Trading Hours

Electronic: 6:36 p.m. - 6:00 a.m. Central Time, Sunday- Friday and 9:30 a.m. to 1:15 p.m., Central Time, Monday – Friday.

Ticker Symbols

Electronic: OZEC for Calls and OZEP for Puts

Daily Price Limit

Thirty cents ($0.30) per gallon ($8,700/contract) above or below the previous day's settlement premium. Limits are lifted on the last trading day.

Margin Information

Find information on margins requirements for the Ethanol Options.