| Western Canadian Select (WCS) Crude Oil Option | |||||
|---|---|---|---|---|---|
| Underlying Futures | Western Canadian Select (WCS) Crude Oil Futures (WCE) | ||||
| Product Symbol | WCO | ||||
| Venue | CME Globex, CME ClearPort and Open Outcry (New York) | ||||
| Hours (All Times are New York Time/ET) |
CME Globex: | Sunday - Friday 6:00 p.m. - 5:15 p.m. (5:00 p.m. - 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT) | |||
| CME ClearPort: | Sunday - Friday 6:00 p.m. - 5:15 p.m. (5:00 p.m. - 4:15 p.m. Chicago Time/CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT) | ||||
| Open Outcry: | Monday – Friday 9:00 AM to 2:30 PM (8:00 AM to 1:30 PM CT) | ||||
| Contract Unit | A Western Canadian Select (WCS) Crude Oil Call Option traded on the Exchange represents an option to assume a long position in the underlying Western Canadian Select (WCS) Crude Oil futures contract at the strike price. A Western Canadian Select (WCS) Crude Oil Put Option traded on the Exchange represents an option to a short position in the underlying Western Canadian Select (WCS) Crude Oil futures contract at the strike price. | ||||
| Price Quotation | U.S. dollars and cents per barrel. | ||||
| Option Style | American | ||||
| Minimum Fluctuation | $0.01 per barrel | ||||
| Expiration of Trading | The option contract shall expire at the close of trading three business days prior to the expiration of the underlying Western Canadian Select (WCS) Crude Oil futures contract. | ||||
| Listed Contracts | CME ClearPort and Open Outcry: | 24 consecutive months. | |||
| CME Globex: | 1 month | ||||
| Strike Prices | Twenty strike prices in increment of $0.05 per barrel above and below the at-the-money strike price. | ||||
| Settlement Type | Physical-Exercise into futures | ||||
| Position Limits | NYMEX Position Limits | ||||
| Rulebook Chapter | 1212 | ||||
| Exchange Rule | These contracts are listed with, and subject to, the rules and regulations of NYMEX. | ||||