Clearing Unit

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

Minimum Price Fluctuation

One tenth of one cent ($ 0.001) per gallon ($ 29.00 per 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.

Clearing Hours

6:36 pm to 3:00 p.m., Central Time, Sunday – Friday.

Clearing Months

24 consecutive calendar months.

Termination of Clearing

The last trading day of the underlying ethanol futures contract

Exercise

These options are cash settled on the Last Clearing day and cannot be exercised at any time.

Expiration time on Last Clearing Day

1:15 pm, Central Time

Final Settlement

For calls, the final settlement price is the difference between the settlement price for the underlying futures contract and the option strike price or zero, whichever is greater. For puts, the final settlement price is the difference between the strike price and the underlying futures settlement price or zero, whichever is greater.

Clearing Symbol

CEC for Calls and CEP for Puts

Margin Information

Find information on margin requirements for the Cash settled Ethanol Options.