OPTIONS ON SOYBEAN FUTURES

Trading Unit: One Soybean futures contract (of a specified contract month) of 5,000 bu

Tick Size: 1/4 cent/bu ($6.25/contract)

Strike Price: 25 cents/bu

Daily Price Limit: 30 cents/bu ($ 1,500/contract) above or below the previous day's settlement premium (expandable to 45 cents/bu). Limits are lifted on the last trading day.

Contract Months: Sep, Nov, Jan Mar, May, Jul, Aug

Contract Year: Sep to Aug

Last Trading Day: The last Friday preceding the first notice day of the corresponding soybean futures contract by at least Five business days

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 Corporation by 6: 00 p.m. Chicago time. Option exercise results ill -in underlying futures market position. Options in-the-money on the last day of trading are automatically exercised.

Expiration: Unexercised options expire at I 0: 00 a.m. Chicago time oil the first Saturday following the last day of trading.

Trading Hours: 9: 30 a.m. - 1: 1 5 p.m. Chicago time, Mon- Fri. Trading in expiring contracts closes at noon on the last trading day.

Ticker Symbols: CZ for calls / PZ for puts