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RBOB Gasoline Physical Options Contract Specs

Options
Underlying Futures RBOB Gasoline Futures (RB)
Product Symbol OB
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 RBOB Gasoline 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 36 consecutive months.
Strike Prices One hundred strike prices in $0.01 per gallon increments above and below the at-the-money strike price, and the next 20 strike prices in $0.05 increments above the highest and below the lowest existing strike prices for a total of at least 241 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 335
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.