Asset Class Navigation

Daily Crude Oil Calendar Spread (1 Month) Options Contract Specs

Options
Contract Unit The underlying spread for the one-month Daily Calendar Spread Option will be defined as the first nearby month Light Sweet Crude Oil Futures contract less the second nearby month Light Sweet Crude Oil Futures contract. The underlying spread for the two-month Daily Calendar Spread Option will be defined as the first nearby month Light Sweet Crude Oil Futures contract less the third nearby month Light Sweet Crude Oil Futures contract. A call Option represents the differential between the settlement price of the underlying spread less the strike price, or zero whichever is greater, multiplied by 1,000. A put Option represents the differential between the strike price and the settlement price of the underlying spread, or zero, whichever is greater, multiplied by 1,000. In the event that the option is expiring on the last trading day of the first nearby Light Sweet Crude Oil Futures contract, the underlying spread for the one-month Daily Calendar Spread Option will be defined as the second nearby month Light Sweet Crude Oil Futures contract less the third nearby month Light Sweet Crude Oil Futures contract. The underlying spread for the two-month Daily Calendar Spread Option will be defined as the second nearby month Light Sweet Crude Oil Futures contract less the fourth nearby month Light Sweet Crude Oil Futures contract.
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: DNM
CME ClearPort: DNM
Clearing: DNM
Listed Contracts Daily contracts listed for 1 day
Termination Of Trading Trading terminates at the close of the business day that it was initially listed on.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 915
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 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.

Discover Crude Oil Futures