Asset Class Navigation

Light Sweet Crude Oil (WTI) Financial 1 Month Spread Options Contract Specs

Options
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.
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: B7A
CME ClearPort: 7A
Clearing: 7A
Listed Contracts Monthly contracts listed for 60 consecutive months.
Termination Of Trading Trading terminates at the close of trading 1 business day immediately preceding the expiration of the first expiring Light Sweet Crude Oil Futures (CL) contract in the spread.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 397
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing
Strike Price Listing Procedures  Strike Price Listing Procedures Table
Exercise Style European
Settlement Method Financially Settled
Underlying Crude Oil Financial Futures