Options Contract Specifications
The heating oil contract specifications
tell you how the heating oil options trade, not how to trade heating oil options. Before you consider opening
a commodity options account, you should consult with a licensed commodities broker.
HEATING OIL OPTIONS
One NYMEX Division New York harbor
heating oil futures contract.
U.S. dollars and cents per gallon.
Hours (All times are New York Time)
Open outcry trading is conducted
from 10:05 AM until 2:30 PM. The contract is available for
trading on the CME Globex® trading platform from 6:00 PM Sundays through 5:15 PM Fridays, with a 45-minute break each
day between 5:15 PM and 6:00 PM.
36 consecutive months.
$0.0001 (0.01¢) per gallon
($4.20 per contract).
Maximum Daily Price Fluctuation
No price limits.
Last Trading Day
Trading ends three business days
before the underlying futures contract.
Exercise of Options
By a clearing member to the Exchange
clearinghouse not later than 4:30 PM or 45 minutes after the underlying futures settlement price is posted, whichever is later,
on any day up to and including the options expiration.
Twenty strike prices in $0.01
(1¢) per gallon increments above and below the at-the-money strike price, and the next 10 strike prices in $0.05 (5¢)
increments above the highest and below the lowest existing strike prices for a total of at least 61 strike prices. The at-the-money
strike price is the nearest to the previous day's close of the underlying futures contract. Strike price boundaries are
adjusted according to the futures price movements.
Margins are required for
open short options positions. The margin requirement for an options purchaser will never exceed the premium.