CME launches dual listing of oil and gas options

The financially settled crude oil, Brent crude oil last day and natural gas calendar spread option contracts will begin on January 25 for a trade date of January 26. The crude and Brent crude oil contracts will be 1,000 barrels in size, with a minimum price fluctuation of $0.01 per barrel. Natural gas contracts will have a minimum fluctuation of $0.001 per million British thermal units (MMBtu) and be 10,000 MMBtu in size.

Expiration of the crude oil contracts will occur on the business day immediately before the termination of the first underlying month of the spread. Brent crude oil contracts will expire on the business day immediately before the termination of the first underlying Brent crude oil last day futures month of the spread. The natural gas contracts will expire on the business day immediately prior to the termination of the first underlying month of the spread.

The new calendar spread options contracts will be: crude oil one-month spread; crude oil two-month spread; crude oil three-month spread; crude oil six-month spread; crude oil 12-month spread; Brent crude oil last day one-month spread; Brent crude oil last day two-month spread; Brent crude oil last day three-month spread; Brent crude oil last day six-month spread; Brent crude oil last day 12-month spread; natural gas one-month spread; natural gas two-month spread; natural gas three-month spread; natural gas five-month spread; natural gas six-month spread; and natural gas 12-month spread.

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