| Product Code |
Ticker: CEC for Calls, CEP for Puts
Clearing: 76 |
| Contract Size |
One futures contract |
Tick Size
(minimum fluctuation) |
$0.001 per gallon ($1.827 to $1.828 = $29.00 per contract) |
| Price Quotation |
U.S. cents or tenths of cents per gallon. At the beginning of trading, 10 strikes bove and 10 strikes below the at-the-money strike will be listed; in total, 21 strikes will be listed initially. |
| Contract Months |
All calendar months |
| Trading Venue |
OTC (clearing only) |
| Clearing Hours |
Sunday - Friday: 6:36 p.m. - 3:00 p.m. CT next day |
Daily Price Limits
(maximum fluctuation) |
$0.30 per gallon ($8,700 per contract) above or below the previous day's settlement price. Limits are lifted on LTD. |
| Final Settlement Procedure |
For Calls, the final settlement price is the difference between the settlement price for the underlying futures contract and the option strike price 0 zero, whichever is greater. For Puts, the final settlement price is the difference between the strike price and the underlying futures settlement price or zero, whichever is greater. |
| Last Clearing Date |
The last trading day of the underlying futures contract |
| Strike Price Increments |
$0.05 per gallon (i.e. 1.900, 1.950, 2.000, 2.050, 2.100, etc.) |
| Exercise |
These options are cash-settled on the last clearing day and cannot be exercised at any time. |
| Expiration |
Unexercised options expire at 1:15 p.m. CT on the last day of clearing. |
| Rulebook Chapter |
16B |
| Exchange Rule |
These contracts are listed with, and subject to, the rules and regulations of CBOT. |
