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Brent Crude Oil Last Day Financial Calendar Spread (1 Month) Options Contract Specs

Options
Contract Unit The underlying futures spread is defined as the settlement price of the first nearby underlying Brent Crude Oil Last Day  futures contract less the settlement price of the second nearby Brent Crude Oil Last Day futures contract.  A Brent Crude Oil Last Day Financial Calendar Spread Put Option traded on the Exchange represents the cash difference between the strike price and the underlying futures spread multiplied by 1,000 barrels, or zero, whichever is greater. A Brent Crude Oil Last Day Financial Calendar Spread Call Option traded on the Exchange represents the cash difference between the underlying spread and the strike price multiplied by 1,000 barrels, or zero, whichever is greater.
Minimum Price Fluctuation $0.01 per barrel
Price Quotation U.S. dollars and cents per barrel.
Trading Hours CME Globex: Sunday - Friday 6:00 p.m. - 5:15 p.m. New York time/ET (5:00 p.m. - 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT)
Open Outcry: Monday - Friday 9:00 a.m. - 2:30 p.m. New York time/ET (8:00 a.m. - 1:30 p.m. Chicago Time/CT)
CME ClearPort: Sunday - Friday 6:00 p.m. - 5:15 p.m. New York time/ET (5:00 p.m. - 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT)
Product Code CME Globex: 9C
CME ClearPort: 9C
Open Outcry: 9C
Clearing: 9C
Listed Contracts CME Globex: 1 month
CME ClearPort and Open Outcry: Twelve consecutive 1 month spreads; Two 2 month spreads: first nearby vs third nearby and second nearby vs fourth nearby; One 3 month spread: first nearby vs fourth nearby; 6 month spreads: Nearest June vs December and December vs June Spreads One 12 month spreads: first nearby December vs second nearby December
Termination Of Trading A Brent Crude Oil Last Day Financial Calendar Spread Option on the Exchange shall expire at the close of trading one business day immediately preceding the expiration of the first expiring futures contract in the spread. Please note that the last trading day for contract months March 2016 and onwards were amended on 9 December 2013 - see SER 6887 for details.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 398
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing
Strike Prices Strike Price Interval Ten strike prices in increments of $0.05 per barrel per above and below the at-the-money strike price; and additional five strike prices in increments of $0.10 per barrel above and below the highest and lowest five increment as described before.  Strike price boundaries are adjusted according to futures price movements.
Exercise Style European
Settlement Method Financially Settled
Underlying Brent Last Day Financial Futures