NYBOT - FINANCIALS CONTRACTS

CRB Index Contract: Overview | Quote-board

FUTURES Contract specifications are current as of  Sept 2, 2003  and may be subject to change.

OPTIONS Contract specifications are current as of  Sept. 2, 2003 and may be subject to change.

Contract Quote : Index Points, e.g., 240.00, 240.05   Daily Price Limits: None Contract Size : $500 X Index   Trading Hours 10:00 am to 2:30 pm Minimum Fluctuation : (tick size) .05 (5 basis pts.)= $25.00, e.g., 240.05, 240.10, 240.15   Position Limits: 10,000 contracts net long or short. Contact the Exchange for more information. Futures & Value : (e.g., futures at 240.00 are valued at $120,000: $500 X 240.00).   Contract Settlement: Settlement at contract maturity is by cash payment. Last Trading Day : Second Friday of the expiration month.   Trading Cycle: January, February, April, June, August and  November (four months traded at all times).

Trading Unit : Call and put options on Reuters CRB Index  futures contracts.   Daily Price Limits: None Trading Hours : See CRB futures   Trading Margin: The purchase of long option positions requires the full payment of the premium in cash.  Consult your broker for details on margin requirements for short option positions. Ticker Symbol : CR Last Trading Day Second Friday of the expiration month.   Strike Price Intervals: Integers which are evenly divisible by two (e.g., 240.00,242.00); minimum of nine exercise prices at all times, four in-the-money, one at-the-money, four out-of-the money.   Price Quotation (tick size ): Prices or premiums are quoted in points,  where .01 equals $5.00.  A premium of 1.00 equals $500.  Minimum price fluctuations (tick size) in premiums shall be 5 points or .05 (equivalent to $25.00 per contract);  however, if an option transaction liquidates an existing position,  the minimum fluctuation can be 1 point ($5.00) if the price is less than 5 points.   Exercise : Open puts and calls in index options may be exercised on any NYFE business day the option is traded by notifying the clearing member carrying the account by 6:00 p.m. (NY time) on that day; the clearing member must then notify the Commodity Clearing Corporation by 8:00 p.m. (NY time) on that day. Any short position open at the end of the day is subject to assignment. A long call (put) that is exercised receives a long (short) position in the underlying futures contract, whereas a short call (put) that is assigned receives a short (long) position in the underlying futures contract, both at the strike price of the options contract. Upon expiration, all in-the-money options will be automatically exercised, in the absence of contrary written instructions.

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