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Light Sweet Crude Oil European Financial Option Contract Specs

    Effective Tuesday, January 2, 2018 (pending CFTC review) NYMEX will amend the contract specifications of the Light Sweet Crude Oil Futures contract (WTI Crude Oil) (Chapter: 200; Commodity Code: CL) commencing with the January 2019 contract month and beyond.  Please see SER 8050 dated December 14, 2017 for more details.

Options
Contract Unit On expiration of a call option, the value will be the difference between the settlement price of the underlying Light Sweet Crude Oil Futures and the strike price multiplied by 1,000 barrels, or zero, whichever is greater. On expiration of a put option, the value will be the difference between the strike price and the settlement price of the underlying Light Sweet Crude Oil Futures multiplied by 1,000 barrels, or zero, whichever is greater.
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: LCE
CME ClearPort: LC
Clearing: LC
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 550
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing
Strike Price Listing Procedures Strike Price Listing and Exercise Procedures Table
Exercise Style European
Settlement Method Financially Settled
Underlying Light Sweet Crude Oil Futures

Welcome to WTI Crude Oil Futures

Whether you are a new trader looking to get started in futures, or an experienced trader looking for a better way to hedge crude oil, NYMEX WTI Light Sweet Crude Oil futures are the most efficient way to trade today’s global oil markets.

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