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Chicago Ethanol (Platts) Average Price Options Contract Specs

Options
Underlying Futures Chicago Ethanol (Platts) Futures (CU)
Product Symbol CME Globex: CVR
CME ClearPort: CVR
Open Outcry: CVR
Venue CME Globex, CME ClearPort, Open Outcry (New York)
Trading Hours
(All times are listed in Central Time)
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) Trade is Flow per day.
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 call option represents the differential between the final settlement price of the underlying futures less the strike price, or zero, whichever is greater, multiplied by 42,000 gallons. A put option represents the differential between the strike price and the final settlement price of the underlying futures, or zero, whichever is greater, multiplied by 42,000 gallons.
Price Quotation U.S. dollars and cents per gallon
Option Style Average Price – non-early exercisable option
Minimum Fluctuation $0.0001 per gallon
Expiration of Trading The option contract shall expire at the close of trading on the last business day of the contract month.
Listed Contracts CME Globex: 1 month
CME ClearPort and Open Outcry: All months of underlying
Strike Prices Five strike prices in increments of $0.001 per gallon above and below the at-the-money strike price in all months.
Settlement Type Financial
Position Limits NYMEX Position Limits
Rulebook Chapter 422
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.