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

Options
Underlying Futures European Naphtha (Platts) Calendar Futures (UN)
Product Symbol NWE
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 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.
Price Quotation U.S. dollars and cents per metric ton.
Option Style Average Price Option - may only be exercised on expiry
Minimum Fluctuation $0.01 per metric ton
Expiration of Trading Trading ceases on the last business day of the calendar month.
Listed Contracts CME ClearPort and Open Outcry: 12 consecutive monthly contracts
CME Globex: 1 month
Strike Prices Strike prices in increments of $0.25 per metric ton
Settlement Type Financial
Position Limits NYMEX Position Limits
Rulebook Chapter 1213
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.