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European Gasoil Brent Crack Spread Average Price Options
 


Type
 
European Gasoil Brent Crack Spread Average Price Option
Underlying Futures European Gasoil Crack Spread Futures (GZ)
Product Symbol CME Globex: A3U
CME ClearPort: 3U
Open Outcry: 3U
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 On the expiration of a call option, the option will be financially settled by subtracting the strike price from the underlying settlement price of the European Gasoil Crack Spread Futures times 1,000 barrels, or zero, whichever is greater. On the expiration of a put option, the option will be financially settled by subtracting the underlying settlement price of the European Gasoil Crack Spread Futures from the strike price times 1,000 barrels, or zero, whichever is greater.
Price Quotation U.S. dollars and cents per barrel.
Option Style Average Price – non-early exercisable option
Minimum Fluctuation $0.001 per barrel
Expiration of Trading Trading ceases on the last business day of the underlying calendar month.
Listed Contracts CME ClearPort and Open Outcry: Balance of current year plus the next 4 calendar years
CME Globex: 0 consecutive months
Strike Prices Twenty strike prices in increments of $.25 per barrel 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 710A
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.
 
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