Steel Rebar Futures Option Contract Specifications

Updated on Dec 22,2022

Underlying Asset	Steel rebar futures contract (10 tons)
Contract Type	Call option and put option
Contract Size	One steel rebar futures contract
Price Quotation	(RMB) Yuan/ton
Minimum Price Fluctuation	0.5 Yuan /ton
Daily Price Limit	Same as that for the underlying futures contract
Contract Month	Option contracts will be listed for the nearest two consecutive months and, when the open interest of the underlying futures contract, after daily clearing, has reached a specific threshold to be separately announced by the Exchange, for later months on the second trading day thereafter
Trading Hours	9:00 a.m. to 11:30 a.m., 1:30 p.m. to 3:00 p.m., and other hours specified by the Exchange
Last Trading Day	The fifth-to-last trading day of the month before the delivery month of the underlying futures contract, subject to adjustment by the Exchange in case of a national holiday and other special circumstances
Expiration Date	Same as the last trading day
Strike Price	The range of strike price is the previous trading day’s settlement price of the underlying futures contract plus or minus 1.5 times the current day’s price limit. The strike price interval is 20 Yuan/ton if strike price ≤2500 Yuan/ton; 50 Yuan/ton if 2500 Yuan/ton < strike price ≤ 5000 Yuan/ton; 100 Yuan/ton if strike price > 5000 Yuan/ ton
Option Style	American style. Buyers may submit an exercise request during trading hours on any trading day before the expiration date, and may submit an exercise or abandonment request before 3:30 p.m. on the expiration date
Contract Symbol	Call option: RB-Contract Month-C-Strike Price Put option: RB-Contract Month-P-Strike Price
Listing Exchange	SHFE