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Brent Crude Oil 1 Month Spread Option Contract Specs

Options
Underlying Futures Brent Crude Oil Penultimate Financial Futures (BB)
Product Symbol AA
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 A Brent Calendar Spread Put Option on the Exchange represents an option to assume a short position in the first Expiring Brent Crude Oil Penultimate Financial Futures in the spread and a long position in the second expiring Brent Crude Oil Penultimate Financial Futures in the spread on the Exchange. A Brent Calendar Spread Call Option represents an option to assume a long position in the first expiring Brent Crude Oil Penultimate Financial Futures in the spread and a short position in the second expiring Brent Crude Oil Penultimate Financial Futures in the spread traded on the Exchange.
Price Quotation U.S. dollars and cents per barrel.
Option Style European
Minimum Fluctuation $0.01 per barrel
Expiration of Trading Trading shall cease on the last 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: Contracts will be available for any combination of the first four months, any pair of consecutive months, and the June - December spread during the first listed 13 months
Strike Prices Ten strike prices in increments of $0.05 per barrel above and below the at-the-money strike price, and the next five strike prices in increments of $0.10 a barrel above the highest and below the lowest existing strike prices for a total of at least 31 strike prices. Strike price boundaries are adjusted according to futures price movements.
Settlement Type Physical
Position Limits NYMEX Position Limits
Rulebook Chapter 394
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.