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30 Year U.S. Treasury Bonds Flexible Options

Contract Size

One CBOT 30-Year Treasury Bond futures contract (of a specified delivery month).

Description

Flexible options on 30-Year U.S. Treasury Bond futures are permitted in puts and call which do not have the same underlying futures contract, same strike price, same exercise style, and same last day of trading as standard options. However, flexible options are also permitted in puts and calls that have the same underlying futures contract, same strike price, same exercise style, and same last day of trading as standard options that are not at that time listed for trading. The minimum size for requesting a quote and/or trading in a flexible option series is 50 contracts, each having a face value at maturity of $100,000.

Tick Size

1/2 of 1/64 of a point ($7.8125/contract) rounded up to the nearest cent/contract.

Contract Months

Trading may be conducted in flexible options in any month up through the most distant futures contract.

Last Trading Day

The last day of trading in a flexible option shall be the expiration day, and these options expire at 7:00 pm, Chicago time. However, flexible options that have the same specifications of standard options that are not listed for trading will follow the expiration and exercise procedures for standard options.

Expiration Date

Unexercised flexible options on 30-Year US Treasury Bond futures shall expire at 7:00 pm Chicago time on the last day of trading. The expiration date can be any date that is not a weekend or an exchange holiday but cannot go beyond the standard options expiration date. Those flexible options that have the features of yet-to-be listed standard options become standard options when the series is listed. These options follow the expiration and exercise procedures as specified in the standard option regulations

Trading Hours

7:20 a.m. - 2:00 p.m. Chicago time, Monday - Friday.

Ticker Symbols

Open Auction:
ABC for American-style calls, ABP for American-Style puts
European-style options: EBC for calls/EBP for puts

Daily Price Limit

None.

Strike Price

Strike prices must be specified in points and 32nds of points per 30-Year U.S. Treasury Bond futures contract. Strike prices can be any strike that is not beyond the range of currently listed strike prices for the standard options.

Exercise

The buyer of an American-style option may exercise the option on any business day prior to expiration by giving notice to the Board of Trade clearing service provider by 6:00 p.m. Chicago time. For European-style, the option is exercised on the expiration day only, prior to 6:00 p.m. At expiration, all in-the-money options are automatically exercised.

Margin Information

Find information on margins requirements for the 30 Year U.S. Treasury Bonds Flexible Options.

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