| EIA Flat Tax On-Highway Diesel Average Price Option | |||||
|---|---|---|---|---|---|
| Underlying Futures | EIA Flat Tax On-Highway Diesel Futures (A5) | ||||
| Product Symbol | DAP | ||||
| Venue | CME Globex, CME ClearPort and 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 EIA Flat Tax On-Highway Diesel Average Price Call Option represents the differential between the final settlement price of the underlying EIA Flat Tax On-Highway Diesel Swap Futures less the strike price, or zero, whichever is greater, multiplied by 42,000 gallons. A EIA Flat Tax On-Highway Diesel Average Price Put Option represents the differential between the strike price and the final settlement price of the underlying EIA Flat Tax On-Highway Diesel Swap Futures, or zero, whichever is greater, multiplied by 42,000 gallons. | ||||
| Price Quotation | U.S. dollars and cents per gallon | ||||
| Option Style | European | ||||
| 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 ClearPort and Open Outcry: | 36 consecutive months. | |||
| CME Globex: | 1 month | ||||
| 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 | 311 | ||||
| Exchange Rule | These contracts are listed with, and subject to, the rules and regulations of NYMEX. | ||||