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Copper Options Contract Specs

Options
Contract Unit One COMEX Copper futures contract
Minimum Price Fluctuation $0.0005 per pound
Price Quotation U.S. Cents per pound.
Please note: Prices are disseminated in U.S. Dollars and Cents
Trading Hours 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 8:10 a.m. – 1:00 p.m. (7:10 a.m. – 12:00 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)
Product Code CME Globex: HXE
CME ClearPort: HX
Open Outcry: HX
Clearing: HX
Listed Contracts Trading is conducted in each of the nearest 22 futures contract months.
Termination 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.
Position Limits NYMEX Position Limits
Exchange Rulebook COMEX 117
Block Minimum Block Minimum Thresholds
Price Limit Or Circuit Price Limits
Vendor Codes Quote Vendor Symbols Listing
Strike Prices Strike Price Interval 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.
Exercise Style American
Settlement Method Deliverable
Underlying Copper Futures

About Copper

Copper futures are hedging tools that offer copper price mitigation opportunities to a range of market participants. They also provide global price discovery and opportunities for portfolio diversification, as well as:

  • Extensive trading opportunities, as copper prices are sensitive to cyclical industries, such as construction and industrial machinery manufacturing, as well as to political situations in countries where copper mining is government-controlled
  • The benefits of central clearing, including guaranteed counterparty credit and segregation of customer funds
  • Copper price transparency, giving all market participants equal access while maintaining anonymity in all bids and offers

Things to know about the contracts:

  • Physically delivered
  • Block-trade eligible
  • Can be traded off-exchange for clearing only through CME ClearPort