CME Group » Energy » Heating Oil Crack Spread Average Pr
Energy Products
View an Energy Product
Heating Oil Crack Spread Average Price Options
Settlements | Contract Specifications | Performance Bonds / Margins | Product Calendar | Learn More
 


Type
 
Starting April 29, 2012, the Exchange is amending Heating Oil (HO) contract grade and quality specifications beginning with the May-2013 contract month to meet those of the Colonial Pipeline’s Fungible Grade 61 for Ultra Low Sulfur Diesel (ULSD). The specification changes in HO are applicable to the April-2013 3W contract month and beyond. See amendments to rulebook Chapter 150.
Heating Oil Crack Spread Average Price Option
Underlying Futures Heating Oil Crack Spread Swap Futures (HK)
Product Symbol 3W
Venue CME ClearPort and Open Outcry (New York)
Hours
(All Times are New York Time/ET)		 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 Heating Oil Crack Spread Swap 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 Heating Oil Crack Spread Swap 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 $0.01 per barrel
Expiration of Trading Trading ceases on the last business day of the underlying calendar month.
Listed Contracts Current Year + 3 Years
Strike Prices Ten strike prices in increments of $.25 per barrel above and below the at-the-money strike price for a total of at least 21 strike prices.
Settlement Type Financial
Position Limits NYMEX Position Limits
Rulebook Chapter 523A
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.