| Crude Oil | Contract Specs |
| Futures | Options | |
| Contract Unit | 1,000 barrels | A Light Sweet Crude Oil Put (Call) Option traded on the Exchange represents an option to assume a short (long) position in the underlying Light Sweet Crude Oil Futures traded on the Exchange. |
| Price Quotation | U.S. Dollars and Cents per barrel | U.S. Dollars and Cents per barrel |
| Trading Hours Globex | Sunday-Friday 5:00 p.m. - 4:00 p.m. CT with a 60 minute break each day beginning at 4:00p.m. CT | Same |
| Trading Hours Open Outcry | n/a | n/a |
| Min Price Fluctuation | $0.01 per barrel | Same |
| Symbol | CL | CL |
| Contract Months | Crude oil futures are listed nine years forward using the following listing schedule: consecutive months are listed for the current year and the next five years; in addition, the June and December contract months are listed beyond the sixth year. Additional months will be added on an annual basis after the December contract expires, so that an additional June and December contract would be added nine years forward, and the consecutive months in the sixth calendar year will be filled in. Additionally, trading can be executed at an average differential to the previous day's settlement prices for periods of two to 30 consecutive months in a single transaction. These calendar strips are executed during open outcry trading hours. | Same |
| Settle Method | Deliverable | Deliverable |
| Last Trading Day | Trading in the current delivery month shall cease on the third business day prior to the twenty-fifth calendar day of the month preceding the delivery month. If the twenty-fifth calendar day of the month is a non-business day, trading shall cease on th third business day prior to the last business day preceding the twenty-fifth calendar day. In the event that the official Exchange holiday schedule changes subsequent to the listing of a Crude Oil futures, the originally listed expiration date shall remain in effect. In the event that the originally listed expiration day is declared a holiday, expiration will move to the business day immediately prior. | Trading terminates 3 business days before the termination of trading in the underlying futures contract. |
| TAS | Trading at settlement is available for spot (except on the last trading day), 2nd, 3rd, 4th, 5th, 6th, and 7th months subject to the requirements of Rule 524.A. TAS Trading ceases daily at 2:30 PM ET. Products eligible for TAS pricing trade off of a "Base Price" of 0 to create a differential (plus or minus 10 ticks) versus settlement in the underlying product on a 1 to 1 basis. A trade done at the Base Price of 0 will correspond to a "traditional" TAS trade which will clear exactly at the final settlement price of the day. TAS calendar spread trading available in the following months: nearby/2nd, nearby/3rd, nearby/4th, nearby/5th, nearby/6th, 2nd/3rd, 2nd/4th, 2nd/5th, 2nd/6th, 3rd/4th, 3/5th, 3rd/6th, 4th/5th, 4th/6th and 5th/6th. | |
| Settlement Procedure | | Same |
| Exchange Rulebook | | |
| Price Limit | | |
| Grade & Quality | | Same |
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| DISCLAIMER: This information is not to be construed as an offer to sell or a solicitation or an offer to buy the commodities herein named. The factual information of this report has been obtained from sources believed to be reliable, but is not necessarily all-inclusive and is not guaranteed as to the accuracy, and is not to be construed as representation by our firm. The risk of loss when trading futures and options is substantial. Each investor must consider whether this is a suitable investment. Past performance isnot indicative of future results. |