Ethanol Options - Contract Specs
| Contract Unit | 1 futures contract for 29,000 gallons |
|---|---|
| Minimum Price Fluctuation | 0.001 per gallon = $29.00 |
| Price Quotation | U.S. dollars and cents per gallon |
| Trading Hours | CME Globex: Sunday 5:00 p.m. - Friday - 4:00 p.m. CT with a 60-minute break each day beginning at 4:00 p.m. CT CME ClearPort: Sunday 5:00 p.m. - Friday 5:45 p.m. CT with no reporting Monday - Thursday from 5:45 p.m. - 6:00 p.m. CT |
| Product Code | CME Globex: OEH CME ClearPort: EH Clearing: EH |
| Listed Contracts | Monthly contracts for 15 consecutive months |
| Settlement Procedures | Receive a futures position for the corresponding month. |
| Termination of Trading | Trading terminates on the last Friday which precedes by at least two business days the last business day of the month prior to the contract month. |
| Position Limits | |
| Exchange Rulebook | |
| Price Limit or Circuit | $0.30 per gallon ($8,700 per contract) above or below the previous day"s settlement price. Limits are lifted on LTD. |
| Vendor Codes | |
| Strike Prices Strike Price Interval | $0.05 per gallon (i.e. 1.900, 1.950, 2.000, 2.050, 2.100, etc.) |
| Exercise Procedure | In-the-money options auto-exercise at expiration. Options may exercised until 6:00 p.m. CT on any business day the option is traded. |
| Settlement Method | Deliverable |
| Underlying | Denatured Fuel Ethanol Futures |
