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WTI Midland (Argus) vs. WTI Trade Month Average Price Option Contract Specs

Options
Contract Unit 1,000 Barrels
Minimum Price Fluctuation $0.01 per Barrel
Price Quotation U. S. Dollars and Cents per Barrel
Trading Hours Sunday - Friday 5:00 p.m. - 4:00 p.m. (6:00 p.m. - 5:00 p.m. ET) with a 60-minute break each day beginning at 4:00 p.m. (5:00 p.m. ET)
Product Code CME Globex: WTO
CME ClearPort: WTO
Clearing: WTO
Listed Contracts Monthly contracts listed for 30 consecutive months.
Termination Of Trading Trading  terminates on the 25th calendar day of the month prior to the contract month. If the 25th calendar day is not a business day, trading terminates on the first business day prior to the 25th calendar day.
Position Limits  NYMEX Position Limits
Exchange Rulebook NYMEX 1229
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 Midland (Argus) vs. WTI Trade Month Futures