Module futures_option 

Options on listed bond futures: one template per exchange contract. Options on government bond futures — the futures_option group, one template per listed option contract.

Sources:

• CBOT — the rulebook chapters 18A (Bond), 19A (10-Year), 20A (5-Year), 21A (2-Year), 26A (Ultra 10-Year) and 40A (Ultra Bond) as filed with the CFTC on 28 September 2026 (filing 26-435, https://www.cftc.gov/filings/orgrules/rules09282630095.pdf): the point value and tick (xxA01.C), the strike interval (xxA01.E), American exercise (xxA01.G), the underlying month (xxA01.D), the last trading day (xxA01.I.1) and the premium paid in full (xxA05).
• Eurex — the Options on Euro-Bund Futures product page and the fixed-income options factsheet (May 2026): futures-style premium, American exercise, the last trading day, ticks and strike intervals.
• ICE Futures Europe — Options on Long Gilt Future, contract specification dated 7 October 2026 (https://www.ice.com/api/productguide/spec/37650338/pdf): futures-style premium (“not paid at the time of purchase … settled-to-market daily”), American exercise, the last trading day, tick and strike interval.

The calendar stands in for the exchange’s. Exchange trading calendars are not modelled; each template computes its expiry on the registered calendar closest to the venue’s (USNY.GOVBOND, DEFR.EUREX, GBLO).

A holiday rule the source does not state is not guessed. CBOT states one holiday case — the Friday one business day before the month’s last business day — and it is implemented as written. When the main rule’s Friday is itself a scheduled holiday (Christmas 2026, Good Friday 2027) the rulebook’s only other text moves an unscheduled closure to the next trading day, and the exchange’s practice for a scheduled one is not stated; neither Eurex nor ICE states a rule at all. Drafting such an expiry is refused and the caller states the expiry.

Weekly options are drafted on CBOT alone (xxA01.D.3–7, xxA01.I.2–6): a weekly expires on its designated weekday, never on a day a quarterly, serial or Friday weekly option trades last; a Friday weekly on a scheduled holiday moves to the business day before, while a Monday to Thursday one on a holiday is not listed. It exercises into a March-cycle future after it, and every weekly on a future expires before that future’s quarterly option, so the future is the first whose quarterly option expires after the weekly. Eurex lists a weekly on every Friday that is not a monthly expiry (Any questions on our Weekly Options on Euro-Bund Futures?, 23 March 2017): a Friday that is not an exchange day moves to the exchange day before, or after where the day before falls in another month, and the weekly exercises into “the next corresponding” future, read as the one the next monthly option to expire exercises into. ICE’s weeklies are built by stating the expiry.

Not here: JGB options on OSE, Montréal OGB and ASX bond options.

Structs

FutureOptionTemplate

The terms of one listed option on a bond future.

Enums

FutureOptionTemplateError

A futures option template that cannot draft a contract.

OptionExpiryRule

How an option month’s last trading day is computed.

Constants

CBOT 🔒

EUREX 🔒

ICE 🔒

SIXTY_FOURTH 🔒

One sixty-fourth of a point.

Statics

FUTURES_OPTIONS

Registry rows for this template group.

Functions

business_days_between 🔒

Business days in (from, to), both ends excluded.

cbot_2y

CBOT-OZT template.

cbot_5y

CBOT-OZF template.

cbot_10y

CBOT-OZN template.

cbot_bond

CBOT-OZB template.

cbot_ultra_10y

CBOT-OTN template.

cbot_ultra_bond

CBOT-OUB template.

cme_treasury_expiry 🔒

CBOT xxA01.I.1. The main rule’s Friday is returned unadjusted: a holiday there is the caller’s to resolve.

eurex_bobl

EUREX-OGBM template.

eurex_btp

EUREX-OBTP template.

eurex_bund

EUREX-OGBL template.

eurex_buxl

EUREX-OGBX template.

eurex_oat

EUREX-OOAT template.

eurex_schatz

EUREX-OGBS template.

friday_before 🔒

The last Friday strictly before date.

ice_long_gilt

ICE-R-OPT template.

last_friday_before_month 🔒

Eurex and ICE: the last Friday before the first of the option month that is followed by at least two business days before it, else the Friday before. Not adjusted: a holiday here is the caller’s to resolve.

option_template 🔒

Builds one row.