| Contract Size |
One
CBOT 2-Year U.S. Treasury Note futures contract (of a specified delivery month). |
| Expiration |
Unexercised 2 Year Treasury
Note futures options shall expire at 7:00 p.m. Central Time on the last day of trading. |
| Tick Size |
1/2 of 1/64 of a point ($15.625/contract)
rounded up to the nearest cent/contract. |
| Contract Months |
| The first three consecutive contract months (two serial expirations and one quarterly expiration)
plus the next two months in the quarterly cycle (Mar, Jun, Sep, Dec). There will always be seven months available for
trading. Serials will exercise into the first nearby quarterly futures contract. Quarterlies will exercise into futures
contracts of the same delivery period. |
| Last Trading Day |
| Options cease trading on the last Friday which precedes by at least two business days, the
last business day of the month preceding the option month. Options cease trading at the close of the regular daytime
open auction trading session for the corresponding 2-Year Treasury Note futures contract. |
| Trading Hours |
Open Auction: 7:20 am - 2:00 pm,
Central Time, Monday - Friday.
Electronic: 5:30 pm - 4:00 pm, Central Time, Sunday - Friday |
| Ticker Symbols |
Open Auction: TUC for calls, TUP
for puts
Electronic: OZTC for calls, OZTP for puts |
| Daily
Price Limit |
| None |
| Strike Price Intervals |
| One-quarter point ($500/contract)
to bracket the current 2-Year T-note futures price. For example, if 2-year T-note futures are at 94-00, strike prices
may be set at 93.25, 93.50, 93.75, 94.00, 94.25, 94.50, 94.75, etc. |
| Exercise |
| 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 pm, Central Time. Options that expire in-the-money are automatically exercised into a position, unless specific instructions
are given to the Board of Trade clearing service provider. |
