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Crude Oil Quarterly Strip Options Contract Specs

Options
Underlying Futures WTI Financial Futures (CS)
Product Symbol CME Globex: A6E
CME ClearPort: 6E
Open Outcry: 6E
Venue CME Globex, CME ClearPort, 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 3 consecutive futures beginning with the underlying month of the option contract.
Price Quotation U.S. dollars and cents per barrel.
Option Style European (Exercise only on Expiration)
Minimum Fluctuation $0.01 per barrel
Expiration of Trading A Crude Oil Option on Quarterly Futures Strip contract shall expire one business day prior to the delivery month of the first underlying Crude Oil Financial Futures (CS) contract.
Listed Contracts CME ClearPort and Open Outcry: Nearest 4 consecutive quarters
CME Globex: 1 month
Strike Prices Twenty strike prices in increments of $0.50 per barrel above and below the at-the-money strike price, for a total of at least 41 strike prices.  Strike price boundaries are adjusted according to price movements of underlying futures contract.
Settlement Type Exercise into Futures
Position Limits NYMEX Position Limits
Rulebook Chapter 356
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.