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Iron Ore 62% Fe, CFR North China (Platts) Average Price Option Contract Specs

Options
Underlying Futures Iron Ore 62% Fe, CFR North China (Platts) Futures (PIO)
Product Symbol ICP
Venue 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)
Open Outcry: Monday – Friday 9:00AM – 2:30PM (8:00AM – 1:30PM CT)
Contract Unit One Iron Ore 62% Fe, CFR North China (Platts) Futures
Price Quotation U.S. dollars and cents per dry metric ton
Option Style European
Minimum Fluctuation $0.01 per dry metric ton
Expiration of Trading Trading terminates on the last business day of the contract month. Business days are based on the Singapore Public Holiday calendar. If the last business day of the contract month is a Singapore public holiday, the last trade date will be the business day immediately preceding the holiday.
Listed Contracts Current year plus the next two calendar years
Strike Prices Three (3) fifty-cent increment strike prices above and below the at-the-money strike price available for trading in all option contract months
Settlement Type Financial
Position Limits NYMEX Position Limits
Rulebook Chapter 645
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of NYMEX.