Asset Class Navigation

Copper Weekly Options 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: H1E,H2E,H3E,H4E,H5E
CME ClearPort: H1E,H2E,H3E,H4E,H5E
Clearing: H1E,H2E,H3E,H4E,H5E
Listed Contracts Weekly contracts listed for 4 consecutive weeks. No weekly contract listed for the week of the monthly option expiration.
Termination Of Trading Trading terminates on Friday of the contract week. If Friday is not a business day, trading terminates on the first business day prior to Friday. 
Position Limits NYMEX Position Limits
Exchange Rulebook COMEX 1010
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

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