Exchange Code:
|
03
|
Sulfur Financial Instrument Commodity Code
|
KS
|
Contract Size
|
One CCFE Sulfur Financial Instrument futures of 25 allowances.
|
Quotation
|
US Dollars
|
Minimum Tick Increment
|
$.05 per allowance = $1.25 per contract
|
Trading Hours
|
7:00 a.m. – 3:00p.m. Central Time
|
Strike Price Intervals
|
Call and Put options will be initially based on up to thirteen strike prices in the series and will be listed at the introduction of a contract. Strike prices will be listed at $50 increments ranging from $200 below to $400 above the market price range of the corresponding futures contract. Additional strikes will be listed on the trading day following the day a related futures contract settles for the first time above or below an existing option strike price.
|
Contract Months
|
Two consecutive quarterly contracts on a March, June, September, December expiration cycle;
plus two front serial calendar months;
plus nearby annual December contract.
|
Last Trading Day
|
The last day of trading is the second business day prior to the first position day for the expiring underlying futures contract.
|
Exercise
|
The exercise method used will be European style. Therefore, Clearing Participants will only be allowed to submit In-the-Money (ITM) cancellation and Out-of-the Money (OTM) exercise instructions on the expiration day of the applicable option contract. Any exercise instruction submitted prior to expiration day will not be processed and purged from clearing. Options that are in-the-money at the close on the last day of trading will be automatically exercised and will result in an underlying futures position in the related contract month.
Please note, Clearing Participant users are required to use a CCorp assigned authorization code when submitting ITM and OTM instructions. To verify your Clearing Participants authorization code or to establish a new one, please contact Client Services and Support @ 312-786-5718.
|
Expiration
|
CCFE Sulfur Financial Instrument option contracts shall expire at 7:00 p.m. on the last day of trading. In the money cancellation, and out of the money exercise requests must be submitted to CCorp by 5:00 p.m. Chicago time.
|
Option Premium
|
CCorp will collect the full option premium from the buyer Clearing Participant and pay the full option premium to the seller Clearing Participant on the day of trade.
|
Price Limits
|
None
|
Reportable Position Limits
|
25 contracts, equivalent to 625 allowances
|
Nearby Expiration Month Speculative Position Limits
|
4,000 contracts.
|
Open Interest
|
Clearing Participants will be required to submit open interest on Sulfur options.
|
Printer
Friendly Version