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Copper Weekly Options Contract Specs

Options
Contract Unit 25,000 Pounds pounds
Minimum Price Fluctuation $0.0005 per pound
Price Quotation Dollars and cents per pound
Trading Hours Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. Chicago Time/CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)
Product Code CME Globex: H1E,H2E,H3E,H4E,H5E
CME ClearPort: H1E,H2E,H3E,H4E,H5E
Clearing: H1E,H2E,H3E,H4E,H5E
Listed Contracts 4 weekly expirations (Friday)
Termination Of Trading Trading terminates on Friday. If the Friday of the listing is a scheduled Exchange holiday, the option shall terminate on the first Business Day immediately preceding the Friday. However, if the first Business Day immediately preceding the Friday is the expiration of a Copper monthly option, the weekly option shall not be listed for trading.
Position Limits NYMEX Position Limits
Exchange Rulebook COMEX 1010
Block Minimum Block Minimum Thresholds
Price Limit Or Circuit Price Limits
Vendor Codes Quote Vendor Symbols Listing
Strike Price Listing Procedures Strike Price Listing and Exercise Procedures Table
Exercise Style American - no contrary instructions
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