One CBOT Oat futures contract (of a specified contract month) of 5,000 bu
OO for calls/OV for puts
1/8 cent/bu ($6.25/contract)
Jul, Sep, Dec, Mar, May; a monthly (serial) option contract is listed when the front month is not a standard option contract. This monthly option contract exercises into the nearby futures contract. For example, an August option exercises into a September futures position.
Last Trading Day
For standard option contracts: The last Friday preceding the first notice day of the corresponding oat futures contract by at least five business days.
For serial option contracts: The Friday which precedes by at least five business days the last business day of the month preceding the option month.
Daily Price Limit
10 cents/bu ($500/contract) above or below the previous day's settlement premium (expandable to 15 cents/bu). Limits are lifted on the last trading day.
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 Corporation by 6:00 p.m. Chicago time. Option exercise results in an underlying futures market position. Options in-the-money on the last day of trading are automatically exercised.
9:30 a.m. - 1:15 p.m. Chicago time, Mon-Fri. Trading in expiring contracts closes at noon on the last trading day. Project A® trading hours are from 9:00 p.m. - 4:30 a.m. Chicago time, Sun-Thu.
Oat Futures Expiration
Unexercised options expire at 10:00 a.m. Chicago time
on the first Saturday following the last day of trading.
Oat futures trade at the Chicago Board of Trade. They
can be pit traded or traded electronically. Oat options
are also available to be traded. Commodity trading involves
risk. Contact one of our futures brokers for more information
on oat futures.