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Copper Options
Type
Description
Copper options are financial tools that offer the right but not the obligation to buy or sell a Copper futures contract at a specified strike price.
Learn More...
| Copper Options | |||||
|---|---|---|---|---|---|
| Underlying Futures | Copper Futures (HG) | ||||
| Product Symbol | CME Globex: HXE CME ClearPort: HX Open Outcry (New York): HX |
||||
| Venue | CME Globex, CME ClearPort, 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 8:10 a.m. – 1:00 p.m. (7:10 a.m. – 12:00 p.m. CT) | ||||
| Contract Unit | One COMEX Copper futures contract | ||||
| Price Quotation | U.S. Cents per pound. Please note: Prices are disseminated in U.S. Dollars and Cents |
||||
| Option Style | American | ||||
| Minimum Fluctuation | $0.0005 per pound | ||||
| Expiration of Trading | Expiration occurs four business days prior to the end of the month preceding the option contract month. If the expiration day falls on a Friday or immediately prior to an Exchange holiday, expiration will occur on the previous business day. | ||||
| Listed Contracts | Trading is conducted in each of the nearest 22 futures contract months. | ||||
| Strike Prices | For the first three months, strike prices are at an interval of $.01. An additional ten strike prices will be listed at $.05 increments above and below the highest and lowest one-cent increment, respectively, beginning with the strike price evenly divisible by $.05. For all other trading months, strike prices are at an interval of $.05 if the underlying futures price is less than $2.00 per pound. If the underlying futures price is greater than $2.00 per pound, strike prices are at an interval of $.05 for the 20 strike prices above and 20 strike prices below the at-the-money strike price. An additional 10 strike prices will be listed at $.25 increments above the highest $.05 increment and an additional ten strike prices will be listed at $.25 increments below the lowest $.05 increment, beginning with the first available strike that is evenly divisible by $.25. | ||||
| Settlement Type | Physical | ||||
| Position Limits | NYMEX Position Limits | ||||
| Rulebook Chapter | 117 | ||||
| Exchange Rule | These contracts are listed with, and subject to, the rules and regulations of COMEX. | ||||
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