Trading Unit: One CBOT 10-Year U.S. Treasury Note futures contract (of a specified delivery month) having a face value at maturity of $100,000 or multiple thereof

Tick Size: 1/44 of a point ($15.625/contract) rounded up to the nearest cent/contract

Strike Prices: 1 point ($1,000/contract) If T-note futures are at 92-00, strike prices may be set at 89, 90, 91, 92, 93, 94, 95, etc.

Daily Price Limit: 3 points ($3,000/contract) above or below the previous day's settlement premium (expandable to 4/, points). Limits are lifted on the last trading day.

Contract Months: The front month of the current quarter plus the next three contracts of the regular quarterly cycle (Mar, Jun, Sep, Dec). If the front month is a quarterly contract month, no monthly contract will be listed. The monthly options contract exercises into the current quarterly futures contract. For example, a July T-note option will exercise into a September futures position.

Last Trading Day: Options cease trading in the month prior to the delivery month of the underlying futures contract. For example, the last trading day for December 1994 T-note Options is November 18, 1 994. Options cease trading at noon on the last Friday preceding by at least five business days the last business day of the month

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. Options that expire in-the-money are automatically exercised into a position, unless specific instructions arc given to the Board of Trade Clearing Corporation.

Expiration: Unexercised options expire at 10:00 a.m. Chicago time on the first Saturday following the list day of trading.

Trading Hours: 7:20 a.m. - 2:00 p.m. Chicago time, Mon- Fri. Evening trading hours are 5:20 - 8:05 p.m.

Ticker Symbols: TC for calls/TP for puts