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Freight Route TD3 (Baltic) Average Price Options Contract Specs

Options
Contract Unit 1,000 metric tons

The underlying reference value is the average of daily settlement prices for Freight Route TD3 published by Baltic Exchange, quoted in percent of the Worldscale flat rate, multiplied by the prevailing Worldscale flat rate, measured in US $ per metric ton.

On expiration day, a call option will be financially settled to the value obtained by subtracting the strike price from the underlying reference price and multiplying by 1,000 metric tons, or zero, whichever is greater. A put option will be financially settled to the value obtained by subtracting the underlying reference price from the the strike price and multiplying by 1,000 metric tons, or zero, whichever is greater.
Minimum Price Fluctuation US $ 0.0001 per metric ton
Price Quotation US $ and cents per metric ton
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)
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)
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)
Product Code CME Globex: TDT
CME ClearPort: TDT
Open Outcry: TDT
Clearing: TDT
Listed Contracts CME Globex: 1 Month
CME ClearPort and Open Outcry: Monthly contracts listed for the current year and next calendar year
Termination Of Trading The last business day of the month
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 949
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing
Strike Prices Strike Price Interval The at the money strike plus at least four strike prices in increments of $0.10 per metric ton above and below at the money strike price
Exercise Style Average Price – non-early exercisable option
Settlement Method Financially Settled
Underlying Freight Route TD3 (Baltic) Futures