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Mont Belvieu Normal Butane (OPIS) Average Price Options Contract Specs

Options
Underlying Futures Mont Belvieu Normal Butane (OPIS) Futures (D0)
Product Symbol CME Globex: A4K
CME ClearPort: 4K
Open Outcry: 4K
Venue CME Globex, CME ClearPort, 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 Mont Belvieu Normal Butane 5 Decimals (OPIS) Average Price Call Option traded on the Exchange represents the differential between the final settlement price of the underlying Mont Belvieu Normal Butane 5 Decimals (OPIS) Swap Futures less the strike price, or zero, whichever is greater, multiplied by 42,000 gallons. A Mont Belvieu Normal Butane 5 Decimals (OPIS) Average Price Put Option represents the differential between the strike price and the final settlement price of the underlying Mont Belvieu Normal Butane 5 Decimals (OPIS) Swap 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 $0.00001 per gallon
Expiration of Trading Trading shall cease on the last business day of the contract month.
Listed Contracts CME Globex: 1 month
CME ClearPort and Open Outcry: Current year and next 3 years
Strike Prices Twenty strike prices in increments of $0.0001 per gallon above and below the at-the-money strike price.
Settlement Type Financial
Position Limits NYMEX Position Limits
Rulebook Chapter 411A
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.

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