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NY Harbor ULSD Crack Spread Average Price Option Contract Specs

Options
Underlying Futures NY Harbor ULSD Crack Spread Futures (HK)
Product Symbol CME Globex: A3W
CME ClearPort: 3W
Open Outcry: 3W
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 NY Harbor ULSD 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 NY Harbor ULSD 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 $0.01 per barrel
Expiration of Trading Trading ceases on the last business day of the underlying calendar month.
Listed Contracts CME ClearPort and Open Outcry: Current Year + 3 Years
CME Globex: 0 consecutive months
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.

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