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WTI Average Price Options Contract Specs

Options
Contract Unit On expiration of a call option, the value will be the difference between the average daily settlement price during the calendar month of the first nearby 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 average daily settlement price during the calendar month of the first nearby 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: AAO
CME ClearPort: AO
Clearing: AO
Listed Contracts Monthly contracts listed for the current year and the next 8 calendar years.Monthly contracts for 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 on the last business day of the calendar month.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 341
Vendor Codes Quote Vendor Symbols Listing
Strike Price Listing Procedures  Strike Price Listing Procedures Table
Exercise Style Average Price – non-early exercisable option
Settlement At Expiration Trading ends the last business day of the calendar month.
Settlement Method Financially Settled
Underlying WTI Financial Futures