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Crude Oil Short-Term 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 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: C01
CME ClearPort: C01
Clearing: C01
Listed Contracts Daily contracts listed for 5 consecutive business days within a seven calendar-day period. No short-term option listed on the expiration day of the monthly Crude Oil Option.
Termination Of Trading Trading terminates on the contract day which coincides with the ticker symbol. For example, C25 N20 coincides with a Short-Term Crude Oil Option expiration of July 25, 2020.
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 1065
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 At Expiration  For short-term option expiring on the last trading day of the first underlying Light Sweet Crude Oil Futures contract month, the second underlying futures contract month is used for settlement.
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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