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Japan C&F Naphtha (Platts) Average Price Option Contract Specs

Options
Underlying Futures Japan C&F Naphtha (Platts) Futures (JA)
Product Symbol JA5
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 A Japan C&F Naphtha (Platts) Average Price Call Option represnts the differential between the final settlement price of the underlying Japan C&F Naphtha (Platts) Swap Futures less the strike price, or zero whichever is greater, multiplied by 1,000 metric tons. A Japan C&F Naphtha (Platts) Average Price Put Option represents the differential between the strike price and the final settlement price of the underlying Japan C&F Naphtha (Platts) Swap Futures, or zero, whichever is greater, multiplied by 1,000 metric tons.
Price Quotation U.S. dollars and cents per barrel
Option Style Average price - non-early exercisable option.
Minimum Fluctuation $0.001 per barrel
Expiration of Trading Trading ceases on the last business day of the underlying calendar month.
Listed Contracts CME ClearPort and Open Outcry: 24 consecutive calendar months.
CME Globex: 1 month
Strike Prices Twenty strike prices in increments of $.50 per barrel above and below the at-the-money strike price for a total of at least 41 strike prices. Strike price boundaries are adjusted according to futures price movements.
Settlement Type Financial
Position Limits NYMEX Position Limits
Rulebook Chapter 1246
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.

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