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Western Canadian Select (WCS) Crude Oil Option Contract Specs

Options
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 Globex: 1 month
CME ClearPort and Open Outcry: 24 consecutive months
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.