(This SER supersedes SER #7039 dated March 20, 2014 to reflect amended First Listing for the Natural Gas Weekly Option contract.)
Effective Sunday, April 13, 2014, for trade date Monday, April 14, 2014, and pending all relevant CFTC regulatory review periods, the New York Mercantile Exchange, Inc. (NYMEX or Exchange) will list Crude Oil Weekly Option and Natural Gas Weekly Option contracts for trading on the NYMEX trading floor and CME Globex.
CONTRACT SPECIFICATIONS:
• Title: Crude Oil Weekly Option
• Commodity Code: LO1-LO5
• Rule Chapter: 1011
• First Listing: April 25, May 2, May 9, May 16
• Listing Period: Four weekly expirations, unless expiration coincides with a monthly option expiration, in which case it will not be listed.
• Contract Size: 1,000 barrels
• Termination of Trading: Options expire 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 Crude Oil monthly option, the weekly option shall not be listed for trading.
• Minimum Price Tick: $0.01 per barrel
• Value per Tick: $10.00
• Final Settlement Price Tick: $0.01 per barrel
• Trading and Clearing Hours:
Open Outcry: Monday – Friday 9:00 a.m. – 2:30 p.m. (8:00 a.m. – 1:30 p.m. Chicago Time/CT).
CME Globex: Sunday – Friday 6:00 p.m. – 5:15 p.m. (5:00 p.m. – 4:15 p.m. CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT).
• Title: Natural Gas Weekly Option
• Commodity Code: ON1-ON5
• Rule Chapter: 1012
• First Listing: May 2, May 9, May 16
• Listing Period: Four weekly expirations, unless expiration coincides with a monthly option expiration, in which case it will not be listed.
• Contract Size: 10,000 MMBTU
• Termination of Trading: Options expire on Friday. Options expire 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 Natural Gas monthly option, the weekly option shall not be listed for trading.
• Minimum Price Tick: $0.001 per MMBTU
• Value per Tick: $10.00
• Final Settlement Price Tick: $0.001 per MMBTU
• Trading and Clearing Hours:
Open Outcry: Monday – Friday 9:00 a.m. – 2:30 p.m. (8:00 a.m. – 1:30 p.m. Chicago Time/CT).
CME Globex: Sunday – Friday 6:00 p.m. – 5:15 p.m. (5:00 p.m. – 4:15 p.m. CT) with a 45-minute break each day beginning at 5:15 p.m. (4:15 p.m. CT).
• Exchange Fees for Crude Oil Weekly Option and Natural Gas Weekly Option:
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Please refer questions on this subject to:
Research and Product Development
Robert Biolsi Bob.Biolsi@cmegroup.com (212) 299-2610
Jeff White Jeff.White@cmegroup.com (212) 299-2325