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Crude Oil Short-Term Options 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 A Short-Term Crude Oil Put Option contract traded on the Exchange represents the cash difference between the exercise price and the settlement price of the first nearby underlying Light Sweet Crude Oil Futures contract multiplied by 1,000, or zero, whichever is greater. In the event that the option is expiring on the last trading day of the first nearby underlying Light Sweet Crude Oil Futures contract, the second nearby underlying futures will be used for settlement. A Short-Term Crude Oil Call Option contract traded on the Exchange represents the cash difference between the settlement price of the first nearby settlement price of Crude Oil Futures contract and the exercise price multiplied by 1,000, or zero, whichever is greater. In the event that the option is expiring on the last trading day of the first nearby Crude Oil Futures contract, the second nearby underlying futures will be used for settlement.
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: C01
CME ClearPort: C01
Clearing: C01
Listed Contracts Daily contracts listed for the current day and the following four business days within a seven-calendar day period, unless that business day coincides with the expiration of a monthly Crude Oil Option in which case it will not be listed. No short-term option shall be listed if its expiration coincides with an Exchange holiday.
Termination Of Trading Expiration day will coincide with the contract ticker symbol. For example, C25 N11 would coincide with a Short-Term Crude Oil Option expiration of July 25, 2011.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 1065
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

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