CRUDE OIL OPTION SEMI-ANNUAL STRIP OPTION - CONTRACT SPECS

Options
Contract Unit 1,000 barrels
Clears in multiples of the number of contract months in the strip
Minimum Price Fluctuation 0.01 per barrel x 6-month strip = $60.00
Price Quotation U.S. dollars and cents per barrel
Trading Hours CME Globex: 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)
CME ClearPort: Sunday 5:00 p.m. - Friday 4:00 p.m. CT with no reporting Monday - Thursday 4:00 p.m. – 5:00 p.m. CT
Product Code CME Globex: 6Y
CME ClearPort: 6Y
Clearing: 6Y
Listed Contracts Semi-annual contracts (Jan, Jul) listed for 5 consecutive years
Termination Of Trading Trading terminates on the last business day of the month prior to the contract month
Position Limits NYMEX Position Limits
Exchange Rulebook NYMEX 1244
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
Exercise Procedure Exercises into a semi-annual strip of CS futures
Settlement Method Deliverable
Underlying WTI Financial Futures