Product sheet | B3

Options on Cash Settled Corn

  • UnderlyingCorn Future Contract (Yellow corn in bulk, with regular odor and appearance, hard or semihard from the latest crop).
    TickerCCM
    Option styleAmerican.
    Contract size450 bags of 60 net kilograms each (corresponding to 27 metric tons).
    QuotationPremium quotation expressed in Brazilian Reals per bags to two decimal places.
    Tick sizeBRL0.01.
    Round-lot1 contract.
    Last trading dayThe business day preceding the expiration date.
    Expiration dateThe 15th of the contract month. If this is not a business day, the expiration date shall be the following business day.
    Contract monthsJanuary, march, may, july, august, september and november.
    Option exerciseOn the expiration date, the option exercise is performed automatically by B3, subject to the following conditions:
    Call option (call):
    a) If the result of the difference between the settlement price of the contract object and the exercise price for the principal owner, is positive; and
    b) the principal holder does not register on the trading system its intention not to exercise its call on the expiration date.
    Put option (put):
    a) If the result of the difference between the exercise price and the settlement price of the contract subject to the principal owner, is positive; and
    b) the principal holder does not register on the trading system its intention not to exercise its put on the expiration date.
    • 12%
      Financial institution
    • 24%
      Institutional investor
    • 20%
      Non-resident
    • 12%
      Natural person
    • 32%
      Others