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Copper Option Contract Specs

Options
Contract Unit 25,000 pounds
Minimum Price Fluctuation 0.0005 per pound = $12.50
Price Quotation U.S. dollars and cents per pound
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: HXE
CME ClearPort: HX
Clearing: HX
Listed Contracts Monthly contracts listed for 22 consecutive months
Termination Of Trading Trading terminates at 12:00 Noon CT on the 4th last business days of the month prior to the contract month. If the 4th last business day occurs on a Friday or the day before a holiday, trading terminates on the prior business day.
Position Limits NYMEX Position Limits
Exchange Rulebook COMEX 117
Block Minimum Block Minimum Thresholds
Price Limit Or Circuit Price Limits
Vendor Codes Quote Vendor Symbols Listing
Strike Price Listing Procedures Strike Price Listing and Exercise Procedures Table
Exercise Style American
Settlement Method Deliverable
Underlying Copper Futures
Clearing Globex Floor ClearPort Product Name Exchange Product Group Subgroup Category Subcategory Cleared As Volume Open Interest
ED GE CE / PE ED Eurodollar Options CME Interest Rate Stirs - - Options 1,530,490 40,873,531
ED GE - ED Eurodollar Futures CME Interest Rate Stirs - - Futures 2,347,062 11,826,409
E0 GE0 E0 E0 Eurodollar 1yr MC Options CME Interest Rate Stirs - - Options 217,887 6,199,441
21 OZN TC / TP 21 10-Year T-Note Options CBOT Interest Rate US Treasury - - Options 547,430 4,875,016
25 ZF - 25 5-Year T-Note Futures CBOT Interest Rate US Treasury - - Futures 1,118,409 4,769,476
21 ZN - 21 10-Year T-Note Futures CBOT Interest Rate US Treasury - - Futures 1,980,483 4,289,164
26 ZT - 26 2-Year T-Note Futures CBOT Interest Rate US Treasury - - Futures 648,592 3,955,228
ES ES - ES E-mini S&P 500 Futures CME Equities US Index - - Futures 1,743,447 2,841,461
LN LNE - LN Natural Gas Option (European) NYMEX Energy Natural Gas - Outrights Options 100,224 2,387,207
25 OZF FL / FP 25 5-Year T-Note Options CBOT Interest Rate US Treasury - - Options 318,838 2,349,632
Trade Date: 18 Feb 2020 | FINAL

About Copper

Copper futures are hedging tools that offer copper price mitigation opportunities to a range of market participants. They also provide global price discovery and opportunities for portfolio diversification, as well as:

  • Extensive trading opportunities, as copper prices are sensitive to cyclical industries, such as construction and industrial machinery manufacturing, as well as to political situations in countries where copper mining is government-controlled
  • The benefits of central clearing, including guaranteed counterparty credit and segregation of customer funds
  • Copper price transparency, giving all market participants equal access while maintaining anonymity in all bids and offers

Things to know about the contracts:

  • Physically delivered
  • Block-trade eligible
  • Can be traded off-exchange for clearing only through CME ClearPort