5-Year T-Note
Futures and Options
5-Year T-Note Options - Contract Specs
| Contract Unit | 1 futures contract with face value at maturity of $100,000 |
|---|---|
| Minimum Price Fluctuation | CME Globex: 1/2 of 1/64 of one point (0.0078125) = $7.8125 CAB: $4.00 CME ClearPort: 1/2 of 1/64 of one point (0.0078125) = $7.8125 CAB: $1.00 increments from $1.00 - $7.00 |
| Price Quotation | Points and fractions of points with par on the basis of 100 points |
| Trading Hours | CME Globex: Sunday 5:00 p.m. - Friday - 4:00 p.m. CT with a daily maintenance period from 4:00 p.m. - 5:00 p.m. CT CME ClearPort: Sunday 5:00 p.m. - Friday 5:45 p.m. CT with no reporting Monday - Thursday from 5:45 p.m. - 6:00 p.m. CT |
| Product Code | CME Globex: OZF CME ClearPort: 25 Clearing: 25 |
| Listed Contracts | Quarterly contracts (Mar, Jun, Sep, Dec) listed for 3 quarters and 3 serial contracts |
| Termination of Trading | Trading terminates on the Friday before the 2nd last business day of the month prior to the contract month. If this is not a business day, trading terminates on the prior business day. |
| Position Limits | |
| Exchange Rulebook | |
| Block Minimum | |
| Price Limit or Circuit | |
| Vendor Codes | |
| Strike Prices Strike Price Interval | Strike prices will be listed in increments of one-quarter of one point. The minimum strike price range will include the at-the-money strike price closest to the current futures price plus the next twenty four (24) consecutive higher and the next twenty four (24) consecutive lower strike prices. |
| Exercise Style | American-style. The buyer of an option may exercise the option on any business day prior to expiration by giving notice to CME Clearing by 5:30 p.m. Options that expire in-the-money after the close on the last trading day are automatically exercised, unless specific instructions are given to CME Clearing by 5:30 p.m. |
| Exercise Procedure | Serials exercise into the first nearby quarterly futures contract Quarterlies exercise into the corresponding futures contracts |
| Settlement Method | Deliverable |
| Underlying | Medium-Term U.S. Treasury Note Futures (5-Year) |
