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Crude Oil Wednesday Weekly Option - Contract Specs
| Contract Unit | 1,000 barrels |
|---|---|
| Minimum Price Fluctuation | 0.01 per barrel = $10.00 |
| Price Quotation | U.S. dollars and cents per barrel |
| Trading Hours | CME Globex: Sunday 5:00 p.m. - Friday - 4:00 p.m. CT with a daily maintenance period from 4:00 p.m. - 5:00 p.m. CT CME ClearPort: Sunday 5:00 p.m. - Friday 4:00 p.m. CT with no reporting Monday - Thursday from 4:00 p.m. - 5:00 p.m. CT |
| Product Code | CME Globex: WL1,WL2,WL3,WL4,WL5 CME ClearPort: WL1,WL2,WL3,WL4,WL5 Clearing: WL1,WL2,WL3,WL4,WL5 |
| Listed Contracts | Weekly contracts listed for 4 consecutive weeks. No weekly contract listed if expiration would occur on a holiday. |
| Termination of Trading | Trading terminates on Wednesday of the contract week |
| Position Limits | |
| Exchange Rulebook | |
| Block Minimum | |
| Vendor Codes | |
| Strike Prices Strike Price Interval | |
| Exercise Procedure | If a weekly option expiration occurs on or after the corresponding monthly option expiration, the weekly option exercises into the second listed underlying futures contract month. |
| Settlement Method | Deliverable |
| Underlying | Light Sweet Crude Oil Futures |
About Crude Oil
Trade NYMEX WTI Crude Oil futures (CL), the world’s most liquid crude oil contract. When traders need the current oil price, they check the WTI Crude Oil price. WTI (West Texas Intermediate, a US light sweet crude oil blend) futures provide direct crude oil exposure and are the most efficient way to trade oil after a sharp rise in US crude oil production.
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