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Silver Options
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Description

Silver options are financial tools that offer the right but not the obligation to buy or sell a Silver futures contract at a specified strike price.
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Silver Options
Underlying Futures Silver Futures (SI)
Product Symbol SO
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 8:25 a.m. – 1:25 p.m. (7:25 a.m. – 12:25 p.m. CT)
Contract Unit One COMEX Silver futures contract
Price Quotation U.S. cents per troy ounce.
Please note: Prices are disseminated in U.S. Dollars and Cents
Option Style American
Minimum Fluctuation $0.001 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 Trading is conducted in the nearest five of the following contract months: March, May, July, September, and December. Additional contract months January, February, April, June, August, October, and November will be listed for trading for a period of two months. A 60-month options contract is added from the current calendar month on a July/December cycle.
Strike Prices If the underlying futures price is less than $25.00 per ounce, forty (40) strike prices in $0.05 increments above and below the at-the-money strike price will be listed; and forty (40) strike prices in $0.25 increments above and below the highest and lowest $0.05 increment, respectively, will be listed; and ten (10) strike prices in $1.00 increments above and below the highest and lowest $0.25 increment, respectively, will be listed. If the underlying futures price is greater than $25.00 per ounce, forty (40) strike prices in increments of $0.25 above or below the at-the-money strike price will be listed; and forty (40) strike prices in $1.00 increments above and below the highest and lowest $0.25 increment, respectively, will be listed.
Settlement Type Physical
Position Limits NYMEX Position Limits
Rulebook Chapter 116
Exchange Rule These contracts are listed with, and subject to, the rules and regulations of COMEX.