One CBOT DJIA futures contract of a specified contract month.
price fluctuation is 0.05 point of option premium or 0.5 index points, which is equal to $5.
Option premium is quoted
with an implicit multiplier of $100. For example, 34.65 points of option premium is equal to $3,465, which is also equal to
346.5 index points.
|Strike Price Intervals|
Twenty 100 index point intervals up and down from the futures price plus ten additional
200 point intervals above and below the highest and lowest 100 point intervals.
The first three consecutive
contract months (two serial expirations and one quarterly expiration) plus the next four months in the quarterly cycle (Mar,
Jun, Sep, Dec). Serials will exercise into the first nearby quarterly futures contract. Quarterlies will exercise
into futures contracts of the same delivery period.
Unexercised quarterly expirations of options on DJIA futures shall expire at 7:00 pm Chicago
time on the business day following the last day of trading. Unexercised serial expirations of options on DJIA futures
shall expire at 7:00 pm Chicago time on the last day of trading.
|American Style. 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 services
provider by 6:00 pm, Chicago time. Options that expire in-the-money are automatically exercised into a futures position,
unless specific instructions are given to the Board of Trade clearing services provider.|
|Last Trading Day|
|For quarterly expirations: The
trading day immediately preceding the third Friday of the quarterly contract month. For serial expirations: The
third Friday of the serial contract month. |
FLOOR TRADED: Monday - Friday, 8:30 am to 3:15
pm Central Time (CT)
Last Trading Day, quarterly options: Trading can occur up to 3:15 pm on the day prior to third Friday
of the contract month
Last Trading Day, serial options: Trading can occur up to 3:15 pm on the third Friday of
the contract month
ELECTRONICALLY TRADED: Monday - Thursday, 3:30 pm - 4:30 pm and 5:00 pm - 8:15 am next day
Sunday: 5:00 pm - 8:15 am next day.
Last Trading Day: Trading can occur up to 8:15 am on expiration day.
Auction: DJC for calls, DJP for puts
Electronic: OZDC for calls, OZDP for puts
|Daily Price Limit|
Successive 10%, 20%, and 30%