Trading Unit: One 5,000-bushel hard red winter wheat futures contract of a specified month

Contract Months: March, May, July, September and December. (Same as the underlying futures contract.)

Trading Hours: 9:30 a.m. to 1:20 p.m. Central time.

Ticker Symbols: Calls: WC Puts: WP:

Strike Price Intervals: Integral multiples of $.1 per bushel (i.e., $2.40, $2.50, $2.60, etc.)

Strike Prices: New strikes are listed to maintain five above and five below the futures settlement price for each contract month. No new strikes are added during the last six trading days for options. Strikes are delisted when they have no trading activity or open interest for 10 consecutive days.

Min Price Fluct. : 1/8 cent per bushel ($6.25 per contract).

Daily Price Limit: Same as daily trading limit for underlying futures, currently 25 cents per bushel ($1,250 per contract) above or below the previous settlement.

Last Trading Day: Wheat options cease trading in the calendar month prior to the futures contract delivery month. Trading ends at 1 p.m. Central time on the Friday that is at least five business days prior to the first notice day for the underlying futures contract.

Exercise: Wheat options can be exercised at any time during the life of the contract by notifying your broker. Brokers must notify KCBT Clearing Corp. by 4 p.m. Central time. There is no automatic exercise at expiration.

Expiration Date: Unexercised wheat options expire at 10:00 a.m. Central time on the Saturday following the last trading day.

Margin Requirements: Consult the exchange for current margins.