Trading Unit: One CBOT Wheat 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: 20 cents/bu ($ 1,000/contract) above or below the previous days settlement premium (expandable to 30 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 wheat 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 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: 9:30 a.m. - 1: 15 p.m. Chicago time, Mon- Fri. Trading in expiring contracts closes at noon on the last trading day.

Ticker Symbols: WY for calls/WZ for puts