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Light Sweet Crude Oil European Financial Option Contract Specs

Trade NYMEX WTI Crude Oil futures (CL), the world’s most liquid crude oil contract. When traders need the current oil price, they check the WTI Crude Oil price. WTI (West Texas Intermediate, a US light sweet crude oil blend) futures provide direct crude oil exposure and are the most efficient way to trade oil after a sharp rise in US crude oil production.

Use WTI Crude Oil futures to hedge against adverse oil price moves or speculate on whether WTI oil prices will rise or fall. Our diverse WTI futures and options suite provides more flexibility to trade oil with WTI Crude Oil price discovery. View delayed WTI Oil prices and WTI Oil price charts below.

Options
Contract Unit On expiration of a call option, the value will be the difference between the settlement price of the underlying Light Sweet Crude Oil Futures and the strike price multiplied by 1,000 barrels, or zero, whichever is greater. On expiration of a put option, the value will be the difference between the strike price and the settlement price of the underlying Light Sweet Crude Oil Futures multiplied by 1,000 barrels, or zero, whichever is greater.
Minimum Price Fluctuation $0.01 per barrel
Price Quotation U.S. dollars and cents per barrel.
Trading Hours Sunday - Friday 6:00 p.m. - 5:00 p.m. (5:00 p.m. - 4:00 p.m. Chicago Time/CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)
Product Code CME Globex: LCE
CME ClearPort: LC
Clearing: LC
Listed Contracts Monthly contracts listed for the current year and the next 8 calendar years and 2 additional consecutive contract months. Monthly contracts for a new calendar year and 2 additional consecutive contract months will be added following the termination of trading in the December contract of the current year.
Termination Of Trading Trading terminates 3 business days before the termination of trading in the underlying futures contract.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 550
Block Minimum Block Minimum Thresholds
Vendor Codes Quote Vendor Symbols Listing
Strike Price Listing Procedures Strike Price Listing and Exercise Procedures Table
Exercise Style European
Settlement Method Financially Settled
Underlying Light Sweet Crude Oil Futures

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Whether you are a new trader looking to get started in futures, or an experienced trader looking for a better way to hedge crude oil, NYMEX WTI Light Sweet Crude Oil futures are the most efficient way to trade today’s global oil markets.

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