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

Options
Underlying Futures Brent Crude Oil Last Day Financial Futures (BZ)
Product Symbol 9C
Venue CME Globex, CME ClearPort and Open Outcry (New York)
Hours
(All Times are New York Time/ET)
CME Globex: Sunday – Friday 6:00 p.m. – 5:15 p.m. (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)
CME ClearPort: Sunday – Friday 6:00 p.m. – 5:15 p.m. (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 AM to 2:30 PM (8:00 AM to 1:30 PM CT)
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.
Price Quotation U.S. dollars and cents per barrel.
Option Style European
Minimum Fluctuation $0.01 per barrel
Expiration 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.
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
Strike Prices 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.
Settlement Type Financial
Position Limits NYMEX Position Limits
Rulebook Chapter 398
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.

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