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Crude Oil Options Contract Specs

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Contract Unit	1,000 barrels
Minimum Price Fluctuation	0.01 per barrel = $10.00
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. CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)
Product Code	CME Globex: LO CME ClearPort: LO Clearing: LO
Listed Contracts	Monthly contracts listed for the current year and the next 10 calendar years and 2 additional contract months. List monthly contracts for a new calendar year and 2 additional contract months following the termination of trading in the December contract of the current year.
Termination Of Trading	Trading terminates 7 business days before the 26th calendar of the month prior to the contract month.
Position Limits	NYMEX Position Limits
Exchange Rulebook	NYMEX 310
Block Minimum	Block Minimum Thresholds
Vendor Codes	Quote Vendor Symbols Listing
Strike Price Listing Procedures	Strike Price Listing and Exercise Procedures Table
Exercise Style	American
Settlement Method	Deliverable
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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Contract Unit	1,000
Minimum Price Fluctuation	0.01 per barrel = $10.00
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. CT) with a 60-minute break each day beginning at 5:00 p.m. (4:00 p.m. CT)
Product Code	CME Globex: WB CME ClearPort: WB Clearing: WB
Listed Contracts	2-Month spreads listed for 12 consecutive months
Termination Of Trading	Trading terminates on the business day prior to the termination of trading in the first leg of the underlying spread.
Position Limits	NYMEX Position Limits
Exchange Rulebook	NYMEX 390
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	Deliverable
Underlying	Crude Oil Futures

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

Contract Unit	A Crude Oil Financial Calendar Spread Put Option traded on the Exchange represents the cash difference between the strike price and the settlement price of the second expiring Light Sweet Crude Oil Futures in the spread less the settlement price of the first expiring Light Sweet Crude Oil Futures in the spread multiplied by 1,000 barrels, or zero, whichever is greater. A Crude Oil Financial Calendar Spread Call Option traded on the Exchange represents the cash difference between the settlement price of the first expiring Light Sweet Crude Oil Futures in the spread less the settlement price of the second expiring Light Sweet Crude Oil Futures in the spread and the strike price 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: 7C CME ClearPort: 7C Clearing: 7C
Listed Contracts	3-Month spreads listed for 12 consecutive months
Termination Of Trading	Trading terminates 1 business day immediately preceding the expiration of the first expiring futures contract in the spread.
Position Limits	NYMEX Position Limits
Exchange Rulebook	NYMEX 397
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	Crude Oil Financial Futures