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Crude Oil Options Contract Specs

Contract Unit A Light Sweet Crude Oil Put (Call) Option traded on the Exchange represents an option to assume a short (long) position in the underlying Light Sweet Crude Oil Futures traded on the Exchange.
Minimum Price Fluctuation $0.01 per barrel
Price Quotation U.S. dollars and cents per barrel.
Trading Hours Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. Chicago Time/CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)
Product Code CME Globex: LO
CME ClearPort: LO
Clearing: LO
Listed Contracts Monthly contracts listed for the current year and the next 5 calendar years and June and December contracts for 3 additional years. Monthly contracts for the balance of a new calendar year will be added following the termination of trading in the December contract of the current year.
Termination Of Trading Trading terminates 3 business days before the termination of trading in the underlying futures contract.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 310
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing
Strike Price Listing Procedures  Strike Price Listing Procedures Table
Exercise Style American
Settlement Method Deliverable
Underlying Light Sweet Crude Oil Futures