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European 1% Fuel Oil Barges FOB Rdam (Platts) Average Price Option Contract Specs

Options
Underlying Futures European 1% Fuel Oil Barges FOB Rdam (Platts) Futures (UH)
Product Symbol EFB
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 European 1% Fuel Oil (Platts) Barges FOB Rdam Average Price Call Option represents the differential between the final settlement price of the underlying European 1% Fuel Oil Barges FOB Rdam (Platts) Average Price Option less the strike price, or zero whichever is greater, multiplied by 1,000 metric tons. A European 1% Fuel Oil (Platts) Barges FOB Rdam Average Price Put Option represents the differential between the strike price and the final settlement price of the underlying European 1% Fuel Oil Barges FOB Rdam (Platts) Average Price Option, or zero, whichever is greater, multiplied by 1,000 metric tons.
Price Quotation U.S. dollars and cents per metric tons
Option Style Average Price – non-early exercisable option
Minimum Fluctuation $0.01 per metric ton
Expiration of Trading Trading ceases on the last business day of the underlying calendar month.
Listed Contracts CME ClearPort and Open Outcry: 36 consecutive monthly contracts.
CME Globex: 1 month
Strike Prices Twenty strike prices in increments of $.50 per metric ton above and below the at-the-money strike price for a total of at least 41 strike prices. Strike price boundaries are adjusted according to futures price movements.
Settlement Type Financial
Position Limits NYMEX Position Limits
Rulebook Chapter 782
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.