SO2 Emission 25-Allowance Options

Trading Unit
An SO₂ Emission 25-Allowance Option contract is a European-style option. An SO₂ Emission 25-Allowance put or call option contract traded on the Exchange represents an option to assume a short or long position in the underlying SO₂ Emission 25-Allowance Futures contract without a specified vintage year traded on the Exchange.

Expiration
An SO₂ Emission 25-Allowance Option contract listed on the Exchange shall expire at the close of trading three business days prior to the expiration of the underlying SO₂ Emission 25-Allowance Futures contract.

Minimum Tick
0.10 per SO₂ emission allowance.

Contract Months
The first listed month will be August 2009. Monthly contracts will list thirty-six months, consecutively.

Trading Hours
Open Outcry: Trading is conducted from 9:00 a.m. to 2:30 p.m. ET
CME ClearPort: 6:00 p.m. Sunday through 5:15 p.m. ET Friday, with a 45-minute break between 5:15 p.m. and 6:00 p.m. ET on Mondays through Thursdays.

Strike Prices
Ten strike prices in increments of $1.00 per allowance above and below the at-the-money strike price. Strike price boundaries are adjusted according to futures price movements.

Code
S2