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Gold Options Contract Specs

Options
Underlying Futures Gold Futures (GC)
Product Symbol OG
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 8:20 a.m. – 1:30 p.m. (7:20 a.m. – 12:30 p.m. CT)
Contract Unit One COMEX Gold futures contract
Price Quotation U.S. dollars and cents per troy ounce.
Option Style American
Minimum Fluctuation $0.10 per troy ounce
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 Gold futures options shall be listed for trading in each of the nearest twenty (20) consecutive futures contract months. In addition, June and December will be listed for 72 months from the current listed month.
Strike Prices http://www.cmegroup.com/rulebook/NYMEX/1a/115.pdf
Settlement Type Physical
Delivery Period Delivery may take place on any business day beginning on the first business day of the delivery month or any subsequent business day of the delivery month, but not later than the last business day of the current delivery month.
Grade and Quality Specifications Gold delivered under this contract shall assay to a minimum of 995 fineness.
Position Limits NYMEX Position Limits
Rulebook Chapter 115
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of COMEX.

About Gold

Gold futures are hedging tools for commercial producers and users of gold. They also provide global gold price discovery and opportunities for portfolio diversification. In addition, they:

  • Offer ongoing trading opportunities, since gold prices respond quickly to political and economic events
  • Serve as an alternative to investing in gold bullion, coins, and mining stocks

Things to know about the contracts:

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

Futures & Options Trading

As the world's leading and most diverse derivatives marketplace, CME Group is where the world comes to manage risk. CME Group exchanges offer the widest range of global benchmark products across all major asset classes, including futures and options based on interest rates, equity indexes, foreign exchange, energy, agricultural commodities, metals, weather and real estate. CME Group brings buyers and sellers together through the CME Globex electronic trading platform and trading facilities in New York and Chicago. CME Group also operates CME Clearing, one of the largest central counterparty clearing services in the world, which provides clearing and settlement services for exchange-traded contracts, as well as for over-the-counter derivatives transactions through CME ClearPort.

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CME Group is the world's leading and most diverse derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX, and COMEX.