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

Tick Size: 1/8 cent/bu ($6.25/contract)

Strike Price: 10 cents/bu

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.

Contract Months: Jul, Sep, Dec, Mar, May

Contract Year: Jul to May

Last Trading Day: The last Friday preceding; the first notice day of the corresponding oat 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. Options in-the-money on the last day of trading are automatically exercised.

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

Trading Hours: 8:30 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: 00 for calls/OV for puts