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: ABV CME ClearPort: BV Clearing: 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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