Description
Gold options are financial tools that offer the right but not the obligation to buy or sell a Gold futures contract at a specified strike price.
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| Gold 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. | ||||