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
