| Japan C&F Naphtha (Platts) Average Price Option | |||||
|---|---|---|---|---|---|
| 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 | ||||
| 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. | ||||