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RBOB Gasoline Options Specs

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Options Contract Specifications
   
The unleaded gas contract specifications tell you how the unleaded gas options trade, not how to trade unleaded gas options. Before you consider opening a commodity options account, you should consult with a licensed commodities broker.

UNLEADED GAS OPTIONS

Trading Unit  
One NYMEX Division New York Harbor Reformulated Gasoline Blendstock for Oxygen Blending (RBOB) futures contract.  
    
Price Quotation  
U.S. dollars and cents per gallon.  
              
Trading Hours (All times are New York time)   
Open outcry trading is conducted from 9:00 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.  
          
Trading Months  
36 consecutive months.  
          
Minimum Price Fluctuation  
$0.0001 (0.01¢) per gallon ($4.20 per contract).  
             
Maximum Daily Price Fluctuation  
No price limits.  
             
Last Trading Day  
Expiration occurs three business days before the underlying futures contract.  
              
Exercise of Options  
By a clearing member to the Exchange clearinghouse not later than 5:30 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.  
              
Strike Prices  
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.  
                           
Margin Requirements  
Margins are required for open short options positions. The margin requirement for an options purchaser will never exceed the premium paid.
              
Trading Symbol
OB

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