Product sheet

Options on Cash Settled Corn

Underlying	Corn Future Contract (Yellow corn in bulk, with regular odor and appearance, hard or semihard from the latest crop).
Ticker	CCM
Option style	American.
Contract size	450 bags of 60 net kilograms each (corresponding to 27 metric tons).
Quotation	Premium quotation expressed in Brazilian Reals per bags to two decimal places.
Tick size	BRL0.01.
Round-lot	1 contract.
Last trading day	The business day preceding the expiration date.
Expiration date	The 15th of the contract month. If this is not a business day, the expiration date shall be the following business day.
Contract months	January, march, may, july, august, september and november.
Option exercise	On 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.