Chapter 61A
Options on Block Cheese Futures
61A00. SCOPE OF CHAPTER
This chapter is limited in application to options on Block Cheese futures. In addition to this chapter,
options on Block Cheese futures shall be subject to the general rules and regulations of theExchange insofar as applicable.
For purposes of this chapter, unless otherwise specified, times referred to herein shall refer to andindicate Chicago time.

61A01. OPTIONS CHARACTERISTICS
61A01.A.
Contract Months
Options contracts shall be listed for such contract months and final settlement in such months as
may be determined by the Exchange.
61A01.B.
Trading Unit
The trading unit shall be an option to buy, in the case of the call, or to sell, in the case of the put,one Block Cheese futures contract as specified in Chapter 61.
61A01.C.
Minimum Fluctuations
The price of an option shall be quoted in cents per pound. Minimum price fluctuations shall be inmultiples of $0.0010 per pound (also known as one tick). A trade may also occur at a price of$0.0005 per pound ($10.00, also known as one-half tick), whether or not it results in the liquidationof positions for both parties to the trade.
61A01.D.
Trading Hours
The hours of trading for options on Block Cheese futures contracts shall be determined by theExchange. Options on Block Cheese futures shall be opened and closed for all months and strikeprices simultaneously.
61A01.E.
Exercise and Exercise Prices
Transactions and exercise of options shall be conducted for option contracts as set forth in theStrike Price Listing and Exercise Procedures Table.
61A01.F.
Position Limits, Exemptions, Position Accountability and Reportable Levels
The applicable position limits and/or accountability levels, in addition to the reportable levels, areset forth in the Position Limit, Position Accountability and Reportable Level Table in theInterpretations & Special Notices Section of Chapter 5.
A Person seeking an exemption from position limits for bona fide commercial purposes shall apply
to the Market Regulation Department on forms provided by the Exchange, and the MarketRegulation Department may grant qualified exemptions in its sole discretion.
Refer to Rule 559 for requirements concerning the aggregation of positions and allowable
exemptions from the specified position limits.
61A01.G.
[Reserved]
61A01.H.
[Reserved]
61A01.I.
Termination of Trading
Options trading shall terminate on the same date and time as the underlying futures contract.
61A01.J.
[Reserved]

61A02. ASSIGNMENTIn addition to the applicable procedures and requirements of Chapter 7 the following shall apply tothe assignment of Block Cheese options.
Exercise notices accepted by the Clearing House shall be assigned through a process of random
selection to clearing members with open short positions in the same series. A clearing member towhich an Exercise notice is assigned shall be notified thereof as soon as practicable after such
notice is assigned by the Clearing House, but not later than 45 minutes prior to the opening oftrading in the underlying futures contract on the following Business Day.

© Copyright Chicago Mercantile Exchange, Inc. All rights reserved.

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The clearing member assigned an Exercise notice shall be assigned a short position in theunderlying futures contract if a call is exercised or a long position in the underlying futures contract
if a put is exercised.
The clearing member representing the option buyer shall be assigned a long position in theunderlying futures contract if a call is exercised and a short position if a put is exercised.
All such futures positions shall be assigned at a price equal to the exercise price of the option andshall be marked to market in accordance with Rule 814 on the Trading Day of acceptance by theClearing House of the Exercise notice.

61A03. [RESERVED]© Copyright Chicago Mercantile Exchange, Inc. All rights reserved.

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