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WTI-Brent Crude Oil Spread Options Contract Specs
| Contract Unit | Upon expiration, the WTI-Brent Crude Oil Spread Call Option will be financially settled by subtracting the strike price from the settlement price of the underlying WTI-Brent Bullet Futures multiplied by 1,000, or zero, whichever is greater. Upon expiration, the WTI-Brent Crude Oil Spread Put Option will be financially settled by subtracting the settlement price of the underlying WTI-Brent Bullet Futures from the strike price multiplied by 1,000, 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: ABVCME ClearPort: BVClearing: BV | ||||
| Listed Contracts | Monthly contracts listed for the current year and the next 3 calendar years.Monthly contracts for a new calendar year will be added following the termination of trading in the December contract of the current year. | ||||
| Termination Of Trading | A WTI-Brent Crude Oil Spread Option on the Exchange shall expire at the close of same day as the termination date of the underlying WTI-Brent (ICE) Bullet Swap Futures traded on the Exchange. Please note that the last trading day for contract months March 2016 and onwards were amended on 9 December 2013 - see SER 6887 for details. | ||||
| Position Limits | NYMEX Position Limits | ||||
| Exchange Rulebook | NYMEX 377 | ||||
| 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 | WTI-Brent Bullet Futures | ||||
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CME Group is the world's leading and most diverse derivatives marketplace. The company is comprised of four Designated Contract Markets (DCMs). Further information on each exchange's rules and product listings can be found by clicking on the links to CME, CBOT, NYMEX and COMEX.
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