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Options Contract Specifications

The KCBT wheat contract specifications tell you how the wheat options trade, not how to trade KCBT wheat options. Before you consider opening a commodity options account you should consult with a licensed commodities broker.

KCBT Wheat Options 

Contract Size

One KCBT hard red winter wheat futures contract.

Tick Size

1/8 cent ($6.25 per contract).

Strike Price Intervals

Integral multiples of 10 cents per bushel.

Listing of Strikes

New strikes are listed to maintain 30 above and 30 below the at-the-money strike in increments of 10 cents.

Contract Months


Last Trading Day

The Friday at least two (2) business days before first notice day for wheat futures.


Any time prior to expiration by giving notice to the KCBT Clearing Corp. by 4:00 p.m., Central time, on any trading day up to and including the last trading day. Options in-the-money on the last day of trading are automatically exercised.


Unexercised Wheat futures options shall expire at 7:00 p.m. on the last day of trading.

Trading Hours

9:30 a.m. to 1:25 p.m., Central time.

Ticker Symbols

Calls: HC. Puts: HP.

Daily Price Limit

Same as underlying futures.

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Commodity trading is not suitable for everyone. The risk of loss in trading can be substantial. When trading futures and/or options, it is possible to lose more than the full value of your account. All funds committed should be risk capital. Carefully consider the inherent risks of such an investment in light of your financial condition. Past results are not necessarily indicative of future results. Please do your own research before investing in the futures market. This site contains no investment recommendations. The information and opinions contained herein comes from sources believed to be reliable, but are not guaranteed as to accuracy or completeness.