CME Group Oats

CME Group oat futures and options trade both by open outcry and by electronic trading. During what are called "regular trading hours" (RTH), oat futures trade side by side on Globex and on the trading floor, while options trade only on the trading floor. During electronic trading hours (ETH), both oat futures and options are traded.
Oat futures and options migrated from the eCBOT trading platform to CME Globex on the evening of January 13, 2008.
== Uses ==
Oats are primarily used for animal feed, though they can also be found in many breakfast foods for humans. Also, oats are used in the manufacturing of plastics, solvents and other industry products.
== Commitment of Traders ==
 
The Commodity Futures Trading Commission regularly issues Commitments of Traders reports that show the distribution of open positions among different classes of traders. Information about CME oat positions is available in this report.
== Delayed Quotes ==
Free delayed quotes are available on the CME Group web site.
== Contract Specifications ==
CME Group Oat Futures 	CME Group Oat Futures 	CME Group Oat Futures
Contract Unit 	5,000 bushels 	5,000 bushels
Price Quotation 	U.S. dollars and cents per bushel 	U.S. dollars and 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
Trading Hours 	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
Minimum Price Fluctuation	1/4 of one cent (0.0025) per bushel = $12.50 	1/4 of one cent (0.0025) per bushel = $12.50
Product Code 	CME Globex: ZO
CME ClearPort: O
Clearing: O 	CME Globex: ZO
CME ClearPort: O
Clearing: O
Listed Contracts 	10 monthly contracts of Mar, May, Jul, Sep and Dec and additional Jul and Sep contracts listed in September 	10 monthly contracts of Mar, May, Jul, Sep and Dec and additional Jul and Sep contracts listed in September
Settlement Method 	Deliverable 	Deliverable
Termination of Trading 	Trading terminates on the business day prior to the 15th day of the contract month. 	Trading terminates on the business day prior to the 15th day of the contract month.
Settlement Procedures 	Oats Settlement Procedures 	Oats Settlement Procedures
Position Limits 	CBOT Position Limits 	CBOT Position Limits
Exchange Rulebook 	CBOT 15 	CBOT 15
Block Minimum 	Block Minimum Thresholds 	Block Minimum Thresholds
Price Limit or Circuit 	Price Limits 	Price Limits
Vendor Codes 	Quote Vendor Symbols Listing 	Quote Vendor Symbols Listing
Last Delivery Date 	Second business day following the last trading day of the delivery month. 	Second business day following the last trading day of the delivery month.
Grade and Quaity 	No. 2 Heavy and No. 1 at par. No. 1 Extra Heavy at 7 cents per bushel over contract price. No. 2 Extra Heavy at 4 cents per bushel over contract price, and No. 1 Heavy at 3 cents per bushel over contract price. No. 2(36 pound total minimum test weight) at 3 cents per bushel under contract price and No. 2 (34 pound total minimum test weight) at 6 cents per bushel under contract price.	No. 2 Heavy and No. 1 at par. No. 1 Extra Heavy at 7 cents per bushel over contract price. No. 2 Extra Heavy at 4 cents per bushel over contract price, and No. 1 Heavy at 3 cents per bushel over contract price. No. 2(36 pound total minimum test weight) at 3 cents per bushel under contract price and No. 2 (34 pound total minimum test weight) at 6 cents per bushel under contract price.
CME Group Oat Options 	CME Group Oat Options 	CME Group Oat Options
Contract Unit 	1 futures contract for 5,000 bushels 	1 futures contract for 5,000 bushels
Minimum Price Fluctuation 	1/8 of one cent (0.00125) per bushel = $6.25 	1/8 of one cent (0.00125) per bushel = $6.25
Price Quotation 	U.S. cents per bushel 	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
Trading Hours 	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
Trading Hours 	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: OZO
CME ClearPort: O
Open Outcry: Put: OV Call: OO
Clearing: O" 	CME Globex: OZO
CME ClearPort: O
Open Outcry: Put: OV Call: OO
Clearing: O"
Listed Contracts 	Monthly contracts listed for 2 consecutive months and 7 monthly contracts of Mar, May, Jul, Sep and Dec 	Monthly contracts listed for 2 consecutive months and 7 monthly contracts of Mar, May, Jul, Sep and Dec
Termination of Trading 	Trading terminates on Friday which precedes, by at least 2 business days, the last business day of the month prior to the contract month. 	Trading terminates on Friday which precedes, by at least 2 business days, the last business day of the month prior to the contract month.
Position Limits 	CBOT Position Limits 	CBOT Position Limits
Exchange Rulebook 	CBOT 15A 	CBOT 15A
Block Minimum 	Block Minimum Thresholds 	Block Minimum Thresholds
Price Limit or Circuit 	Price Limits 	Price Limits
Vendor Codes 	Quote Vendor Symbols Listing 	Quote Vendor Symbols Listing
Strike Price Listing Procedures	Trading shall be conducted for put and call options with striking prices in integral multiples of five (5) cents and ten (10) cents per bushel. More details on strike price intervals are outlined in Rule 15A01.E. 	Trading shall be conducted for put and call options with striking prices in integral multiples of five (5) cents and ten (10) cents per bushel. More details on strike price intervals are outlined in Rule 15A01.E.
Exercise Style 	The buyer of a futures option may exercise the option on any business day prior to expiration by giving notice to the Clearing House by 5:30 p.m. Chicago time. Option exercise results in an underlying futures market position. Options in-the-money on the last day of trading are automatically exercised.	The buyer of a futures option may exercise the option on any business day prior to expiration by giving notice to the Clearing House by 5:30 p.m. Chicago time. Option exercise results in an underlying futures market position. Options in-the-money on the last day of trading are automatically exercised.
Settlement Method 	Deliverable 	Deliverable
Underlying 	Oat Futures 	Oat Futures
== Notes == 
== Also See ==
CME Group commodity products 
== Resources ==
*CME Group Oats Contract Specs
*CME Group Web site
*OatInsight
*A Case Study of the Canadian Oat Market
*Risk Management in U.S. Grains Markets
== References ==
Category:Sponsored Pages
Category:Sponsored Pages - CME
Category:Reserved Pages
Category:Reserved Pages - CME
Category:Oats Futures Contracts
Category:Futures Contracts Traded on CME Group
Category:Agricultural Futures Contracts
Category:Oats Options
Category:Options Traded on CME Group
Category:Agricultural Options
Category:Futures Data in Template
Category:CME Group
*Oats Settlement Procedures
*CBOT Position Limits
*CBOT 15
*Block Minimum Thresholds
*Price Limits
*Quote Vendor Symbols Listing