10-Year T-Note
Futures and Options
10-Year T-Note Options - Contract Specs
| Contract Unit | 1 futures contract with face value at maturity of $100,000 |
|---|---|
| Minimum Price Fluctuation | CME Globex: 1/64 of one point (0.015625) = $15.625 CAB: $7.00 CME ClearPort: 1/64 of one point (0.015625) = $15.625 CAB: $1.00 increments from $1.00 - $15.00 |
| 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: OZN CME ClearPort: 21 Clearing: 21 |
| 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 for the nearest monthly (serial or quarterly) expiration. The minimum strike price range will include the at-the-money strike price closest to the current futures price plus the next fifty (50) consecutive higher and the next fifty (50) consecutive lower strike prices. For all other months, Strike prices will be listed in increments of one-half 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 fifty consecutive higher and the next fifty 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. CT. 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. CT. |
| Exercise Procedure | Serials exercise into the first nearby quarterly futures contract Quarterlies exercise into the corresponding quarterly futures contracts |
| Settlement Method | Deliverable |
| Underlying | U.S. Treasury Note Futures (6½ to 8-Year) |
