Trading Unit: One CBOT Corn 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: 12 cents/bu ($600/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: Dec, Mar, May, Jul, Sep

Contract Year: Dec to Sep

Last Trading Day: The last Friday preceding the first notice day of the Corresponding corn 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 in an underlying futures market position. Options at least 10 cents/bu in-the-money on the last day of trading are automatically exercised.

Expiration: Unexercised options expire at I 0:00 a.m. Chicago time on 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: CY for calls/PY for puts