White Sugar Option Contract Specs
（The contract terms shall apply to white sugar option contracts before 1 January, 2020.）
| Underlying | White Sugar Futures Contract |
| Contract Type | Call Option, Put Option |
| Trading Unit | One white sugar futures contract (10 metric tons) |
| Price Quotation | Chinese yuan (CNY) per metric ton |
| Minimum Price Fluctuation | CNY0.5/metric ton |
| Price Limit | The same as the price limit of the white sugar futures contract |
| Contract Months | The two consecutive nearby months of the underlying futures contract; the options contracts of the following months will be listed on the trading day following the day when open interests (two-sided) of their underlying futures contracts exceed 5000 lots after clearing. |
| Trading Hours | Monday to Friday (except public holidays) 9:00 a.m.—11:30 a.m. 13:30 p.m.—15:00 p.m. (Beijing time) Other trading hours stipulated by Zhengzhou Commodity Exchange |
| Last Trading Day | The 3rd trading day of the month prior to the futures delivery month and other dates stipulated by Zhengzhou Commodity Exchange |
| Expiration Day | The same as the last trading day |
| Strike Price | Based on the settlement price of the previous trading day of white sugar futures, five in-the-money option contracts, one at-the-money option contract and five out-of-the-money option contracts will be listed according to the strike price interval. The strike price interval is: CNY50/metric ton when the strike price is less than or equal to CNY3,000/metric ton; CNY100/metric ton when the strike price is greater than CNY3,000/metric ton and less than or equal to CNY10,000/metric ton; CNY200/metric ton when the strike price is greater than CNY10,000/metric ton. |
| Exercise Style | American. The buyer can submit the application for exercising white sugar option on the expiration day or any trading day before the expiration day during trading hours. The buyer can submit the application for exercising or waiving the exercise before 15:30 on the expiration day. |
| Product Code | Call option: SR + contract month + C+ strike price Put option: SR + contract month + P + strike price |
| Listed Exchange | Zhengzhou Commodity Exchange |
White Sugar Option Contract Specs
（The contract terms shall apply to white sugar option contracts since 1 January, 2020.）
| Underlying | White Sugar Futures Contract |
| Contract Type | Call Option, Put Option |
| Trading Unit | One white sugar futures contract (10 metric tons) |
| Price Quotation | Chinese yuan (CNY) per metric ton |
| Minimum Price Fluctuation | CNY0.5/metric ton |
| Price Limit | The same as the price limit of the white sugar futures contract |
| Contract Months | The two consecutive nearby months of the underlying futures contract; the options contracts of the following months will be listed on the trading day following the day when open interests (single-sided) of their underlying futures contracts exceed 5000 lots after clearing. |
| Trading Hours | Monday to Friday (except public holidays) 9:00 a.m.—11:30 a.m. 13:30 p.m.—15:00 p.m. (Beijing time) Other trading hours stipulated by Zhengzhou Commodity Exchange |
| Last Trading Day | The 3rd trading day of the month prior to the futures delivery month and other dates stipulated by Zhengzhou Commodity Exchange |
| Expiration Day | The same as the last trading day |
| Strike Price | Based on the settlement price of the previous trading day of white sugar futures, five in-the-money option contracts, one at-the-money option contract and five out-of-the-money option contracts will be listed according to the strike price interval. The strike price interval is: CNY50/metric ton when the strike price is less than or equal to CNY3,000/metric ton; CNY100/metric ton when the strike price is greater than CNY3,000/metric ton and less than or equal to CNY10,000/metric ton; CNY200/metric ton when the strike price is greater than CNY10,000/metric ton. |
| Exercise Style | American. The buyer can submit the application for exercising white sugar option on the expiration day or any trading day before the expiration day during trading hours. The buyer can submit the application for exercising or waiving the exercise before 15:30 on the expiration day. |
| Product Code | Call option: SR + contract month + C+ strike price Put option: SR + contract month + P + strike price |
| Listed Exchange | Zhengzhou Commodity Exchange |
