Options on Cash Settled Soybean Futures
- Specifications
| Underlying | Soybean Future Contract (Soybean in bulk, export type, with a maximum of: 14% moisture content; 1% foreign matter and impurities; 30% broken beans; 8% green beans; 8% damaged, of which a maximum of 6% moldy beans, 4% heat-damaged and burned beans, of which burned beans cannot exceed 1%; and 18.5% oil content). |
| Ticker | SFI |
| Option style | American. |
| Contract size | 450 bags weighing 60-net kilograms (corresponding 27 metric tons). |
| Quotation | Premium quotation express in Dollars of United States per bag to two decimal places. |
| Tick size | USD0.01. |
| Round-lot | 1 contract. |
| Last trading day | The business day preceding the expiration date. |
| Expiration date | Second business day prior to the start of the contract month. |
| Contract months | March, april, may, june, july, august, september, and november. |
| Option exercise | On the expiration date, the option exercise is performed automatically by BM&FBOVESPA, 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. |
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