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Type
 
Crude Oil Financial Calendar Spread (1 Month) Option
Underlying Futures Light Sweet Crude Oil Futures (CL)
Product Symbol 7A
Venue CME ClearPort and Open Outcry (New York)
Hours
(All Times are New York Time/ET)		 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 Crude Oil futures contract less the settlement price of the second nearby Crude Oil futures contract. A  Crude Oil 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 Crude Oil Financial Calendar Spread Call Option traded on the Exchange represents the cash difference between the underlying futures 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 Crude Oil 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.
Listed Contracts One-month spreads: 60 consecutive monthly contracts. Two-month spreads: second-nearby vs. the fourth nearby, and first nearby vs. third nearby futures contract. Three-month spread: The first nearby vs. the fourth nearby. Six-month spread: All June vs. December and December vs. June spreads . Twelve-month spreads: Twelve-month spreads for each of the next 12 months and all December-December spreads.
Strike Prices Ten strike prices in increments of $0.05 per bbls above and below the at-the-money strike price; and additional five strike prices in increments of $0.10 per bbls 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 397
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.