MGEX-CBOT Wheat Spread Options

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MGEX-CBOT Wheat Spread Futures
Contract Unit 5,000 bushels (~136 metric tons)
Price Quotation U.S. cents per bushel
Trading Hours 5:00 p.m. - 2:00 p.m. Sunday - Friday CT
Minimum Price Fluctuation 1/4 of one cent = $12.50
Product Code CME Globex: MCX

Clearing: MCG

Listed Contracts Monthly contracts listed for July, September and December
Settlement Method Financially Settled
Floating Price The Floating Price for each contract month will be the month-end spot U3O8 price published in Ux Weekly for the contract month by UxC, LLC (UxC). The procedures for trading, clearing and cash settlement of this contract, and any other matters not specifically covered herein shall be governed by the general rules of the Exchange.
Termination of Trading Trading terminates on the business day prior to the 15th calendar day of the contract month
Settlement Procedures Seasonal Strip Weather Settlement Procedures
Position Limits CBOT Position Limits
Exchange Rulebook CBOT 14E
Block Minimum Block Minimum Thresholds
Price Limit or Circuit Price Limits
Vendor Codes Quote Vendor Symbols Listing
MGEX-CBOT Wheat Spread Options
Contract Unit 5,000 bushels
Minimum Price Fluctuation 1/8 of one cent per bushel = $6.25
Price Quotation U.S. cents per bushel
Trading Hours CME Globex: Sunday – Friday, 7:00 p.m. – 7:45 a.m. CT and

Monday – Friday, 8:30 a.m. – 1:20 p.m. CT

Open Outcry: Monday – Friday, 8:30 a.m. – 1:15 p.m.

CT with Post session until 1:20 p.m. CT immediately following the close

CME ClearPort: Sunday 5:00 p.m. - Friday 5:45 p.m. CT with no reporting Monday - Thursday from 5:45 p.m. – 6:00 p.m. CT
Product Code CME Globex: MCW

CME ClearPort: MCG

Open Outcry: MCG

Clearing: MCG

Listed Contracts MGEX July vs. CBOT July

MGEX September vs. CBOT July MGEX December vs. CBOT December

Termination of Trading Trading terminates on the last Friday which precedes by at least two business days the last business day of the month prior to the contract month.
Position Limits CBOT Position Limits
Exchange Rulebook CBOT 14E
Vendor Codes Quote Vendor Symbols Listing
Strike Price Listing Procedures Strike prices will be listed in increments of five cents per bushel. The minimum strike price range will include the strike price closest to the current MGEX-CBOT futures spread price, plus the next ten consecutive higher and the next ten consecutive lower strike prices.
Exercise Style European-style. The buyer of an MGEX-CBOT Wheat Spread option that is in-the-money after the close on the last trade day will be cash settled to the final settlement price.
Settlement Method Deliverable
Underlying MGEX-CBOT Wheat Spread Synthetic Futures

Notes[edit]

Resources[edit]

CME Group MGEX-Chicago SRW Wheat Spread Contract Specs