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Gulf Coast HSFO (Platts) Average Price Options Contract Specs

Options
Contract Unit On expiration of a call option, the option will be financially settled by subtracting the strike price from the underlying settlement price of the Gulf Coast No. 6 Fuel Oil 3.0% (Platts) Futures contract times 1,000 barrels, or zero, whichever is greater. On expiration of a put option, the option will be financially settled by subtracting the underlying settlement price of the Gulf Coast No. 6 Fuel Oil 3.0% (Platts) Futures contract from the strike price times 1,000 barrels, or zero, whichever is greater.
Minimum Price Fluctuation $0.01 per barrel
Price Quotation U.S. dollars and cents per barrel.
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: AFG
CME ClearPort: FG
Open Outcry: FG
Clearing: FG
Listed Contracts Monthly contracts listed for 52 consecutive months
Termination Of Trading The option shall expire on the last business day of the contract month.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 604
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing
Strike Prices Strike Price Interval Twenty strike prices in increments of $0.05 per barrel above and below the at-the-money strike price. Strike price boundaries are adjusted according to futures price movements.
Exercise Style Average Price – non-early exercisable option
Settlement Method Financially Settled
Underlying Gulf Coast HSFO (Platts) Futures