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NY Ethanol (Platts) Average Price Options Contract Specs

Options
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.
Minimum Price Fluctuation $0.0001 per gallon
Price Quotation U.S. dollars and cents per gallon
Trading Hours CME Globex: Sunday - Friday 6:00 p.m. - 5:15 p.m. New York time/ET (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 a.m. - 2:30 p.m. New York time/ET (8:00 a.m. - 1:30 p.m. Chicago Time/CT)
CME ClearPort: Sunday - Friday 6:00 p.m. - 5:15 p.m. New York time/ET (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)
Product Code CME Globex: NVP
CME ClearPort: NVP
Open Outcry: NVP
Clearing: NVP
Listed Contracts CME Globex: 1 month
CME ClearPort and Open Outcry: All months of underlying
Termination Of Trading The option contract shall expire at the close of trading on the last business day of the contract month.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 423
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing
Strike Prices Strike Price Interval Five strike prices in increments of $0.001 per gallon above and below the at-the-money strike price in all months.
Exercise Style Average Price – non-early exercisable option
Settlement Method Financially Settled