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

Options
Underlying Futures Gulf Coast Jet Fuel (Platts) Futures (GE)
Product Symbol GVR
Venue CME Globex, CME ClearPort, 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 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.
Price Quotation U.S. dollars and cents per gallon
Option Style Average Price – non-early exercisable option
Minimum Fluctuation $0.0001 per gallon
Expiration of Trading The option contract shall expire at the close of trading on the last business day of the contract month.
Listed Contracts CME ClearPort and Open Outcry: 36 consecutive months
CME Globex: 1 month
Strike Prices Five strike prices in increments of $0.001 per gallon above and below the at-the-money strike price in all months.
Settlement Type Financial
Position Limits NYMEX Position Limits
Rulebook Chapter 424
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.