| Mont Belvieu Normal Butane (OPIS) Average Price Option | |||||
|---|---|---|---|---|---|
| Underlying Futures | Mont Belvieu Normal Butane (OPIS) Futures (D0) | ||||
| Product Symbol | CME Globex: A4K CME ClearPort: 4K Open Outcry: 4K |
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| 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, wichever 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 ClearPort and Open Outcry: | 36 consecutive months. | |||
| CME Globex: | 1 consecutive month | ||||
| 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. | ||||