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Gulf Coast Jet Fuel (Platts) Average Price Options Contract Specs

Options
Contract Unit A call option represents the differential between the final settlement price of the underlying futures less the strike price, or zero, whichever is greater, multiplied by 42,000 gallons. A put option represents the differential between the strike price and the final settlement price of the underlying futures, or zero, whichever is greater, multiplied by 42,000 gallons.
Minimum Price Fluctuation $0.0001 per gallon
Price Quotation U.S. dollars and cents per gallon
Trading Hours CME Globex: Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. Chicago Time/CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 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. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. Chicago Time/CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)
Product Code CME Globex: GVR
CME ClearPort: GVR
Open Outcry: GVR
Clearing: GVR
Listed Contracts Monthly contracts listed for 36 consecutive months
Termination Of Trading Trading terminates on the last business day of the contract month.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 424
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing
Strike Price Listing Procedures Strike Price Listing Procedures Table
Exercise Style Average Price – non-early exercisable option
Settlement Method Financially Settled
Underlying Gulf Coast Jet Fuel (Platts) Futures