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Options Contract Specifications

The 30 Year T-Bond options contract specifications tell you how the 30 Year T-Bond futures options trade, not how to trade 30 Year T-Bond futures options. Before you consider opening a futures account, you should consult with a licensed futures broker.

30 YR T-BOND FUTURES

Contract Size

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

Expiration

Unexercised 30 Year US Treasury Bond futures options shall expire at 7:00 p.m. Chicago Time on the last day of trading

Tick Size

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

Contract Months
The first three consecutive contract months (two serial expirations and one quarterly expiration) plus the next four months in the quarterly cycle (Mar, Jun, Sep, Dec). There will always be seven months available for trading. Serials will exercise into the first nearby quarterly futures contract. Quarterlies will exercise into futures contracts of the same delivery period.
Last Trading Day
Options cease trading on the last Friday which precedes by at least two business days, the last business day of the month preceding the option month.  Options cease trading at the close of the regular daytime open auction trading session for the corresponding 30-Year Treasury Bond futures contract.
Trading Hours
Open Auction: 7:20 am - 2:00 pm, Chicago Time, Monday - Friday
Electronic: 5:30 p.m. - 4:00 p.m. Chicago Time, Sunday - Friday
Ticker Symbols
Open Auction: CG for calls, PG for puts
Electronic: OZBC for calls, OZBP for puts.
Daily Price Limit
None
Strike Price Intervals
Trading shall be conducted for put and call options with striking prices in integral multiples of one (1) point per U.S. Treasury Bond futures contract. If 30-Year T-bond futures are at 92-100, strike prices may be set at 89, 90, 91, 92, 93, 94, 95, etc.
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 service provider by 6:00 p.m. Chicago time. Options that expire in-the-money are automatically exercised into a position, unless specific instructions are given to the Board of Trade clearing service provider.

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