|Underlying||Corn Future Contract (Yellow corn in bulk, with regular odor and appearance, hard or semihard from the latest crop).|
|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.|
|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.