Description
Heating Oil (Physical) options are the right, but not the obligation, to buy or sell a heating oil futures contract at a specified strike price.
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| Heating Oil Option | |||||
|---|---|---|---|---|---|
| Underlying Futures | New York Harbor No. 2 Heating Oil Futures (HO) | ||||
| Product Symbol | OH | ||||
| Venue | CME Globex, CME ClearPort, 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) | |||
| 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) | ||||
| Open Outcry: | Monday – Friday 9:00 AM to 2:30 PM (8:00 AM to 1:30 PM CT) | ||||
| Contract Unit | A Heating Oil Put (Call) Option traded on the Exchange represents an option to assume a short (long) position in the underlying futures contract traded on the Exchange. | ||||
| Price Quotation | U.S. dollars and cents per gallon. | ||||
| Option Style | American | ||||
| Minimum Fluctuation | $0.0001 per gallon | ||||
| Expiration of Trading | Expiration occurs three business days before the expiration of the underlying futures contract. | ||||
| Listed Contracts | Current Year + 3 Years + 1 Month | ||||
| Strike Prices | Twenty strike prices in $0.01 per gallon increments above and below the at-the-money strike price, and the next 10 strike prices in $0.05 increments above the highest and below the lowest existing strike prices for a total of at least 61 strike prices. The at-the-money strike price is the nearest to the previous day's close of the underlying futures contract. Strike price boundaries are adjusted according to the futures price movements. | ||||
| Settlement Type | Exercise into Futures | ||||
| Position Limits | NYMEX Position Limits | ||||
| Rulebook Chapter | 320 | ||||
| Exchange Rule | These contracts are listed with, and subject to, the rules and regulations of NYMEX. | ||||