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European Naphtha Cargoes CIF NWE (Platts) Average Price Option Contract Specs

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Contract Unit 1,000 metric tons. A European Naphtha (Platts) Cargoes CIF NWE Average Price Call Option represnts the differential between the final settlement price of the underlying European Naphtha (Platts) Calendar Futures less the strike price, or zero whichever is greater, multiplied by 1,000 metric tons. A European Naphtha (Platts) Cargoes CIF NWE Average Price Put Option represents the differential between the strike price and the final settlement price of the underlying European Naphtha (Platts) Calendar Futures, or zero, whichever is greater, multiplied by 1,000 metric tons.
Minimum Price Fluctuation $0.001 per metric ton
Price Quotation U.S. dollars 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)
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)
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)
Product Code CME Globex: NWE
CME ClearPort: NWE
Open Outcry: NWE
Clearing: NWE
Listed Contracts CME Globex: 1 month
CME ClearPort and Open Outcry: 12 consecutive monthly contracts
Termination Of Trading Trading ceases on the last business day of the calendar month.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 1213
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing
Strike Prices Strike Price Interval Strike prices in increments of $0.25 per metric ton
Exercise Style Average Price Option - may only be exercised on expiry
Settlement Method Financially Settled
Underlying European Naphtha Cargoes CIF NWE (Platts) Futures