Trading Unit
One
COMEX Division gold futures contract.
Price Quotation
U.S. dollars and cents per troy ounce.
Trading Hours (All times are New York time)
Open
outcry trading is conducted from 8:20 AM until 1:30 PM.
Electronic trading is conducted
via the CME Globex® trading platform from 6:00 PM Sundays through 5:15 PM Fridays, Eastern Time, with a 45-minute break
each day between 5:15 PM and 6:00 PM. Off-Exchange transactions can be submitted solely for clearing to the NYMEX ClearPort®
clearing website as an exchange of futures for swaps (EFS) or exchange of futures for physicals (EFP) transaction until 5:15
PM, Monday through Friday, and the day preceding a holiday.
Trading
Months
The nearest six of the following contract months:
February, April, June, August, October, and December. Additional contract months – January, March, May, July, September,
and November – will be listed for trading for a period of two months. A 60-month options contract is added from the
current calendar month on a June/December cycle.
The options are American-style
and can be exercised at any time up to expiration. On the first day of trading for any options contract month, there will
be 13 strike prices each for puts and calls.
Minimum Price Fluctuation
$0.10 (10¢) per troy ounce ($10.00 per contract).
Maximum Daily Price Fluctuation
No
price limits.
Last Trading Day
Expiration occurs on the fourth business day prior to the underlying futures delivery month. If the
expiration day falls on a Friday or immediately prior to an Exchange holiday, expiration will occur on the previous business
day.
Exercise of Options
Until one hour after the contract market close, New York time, on any business day for which the
options contract is listed for trading. On expiration day, the buyer has until 4:30 PM, New York time, to exercise an options
contract.
Strike Prices
$10.00 per ounce apart for strike prices below $500, $20.00 per ounce apart for strike prices between
$500 and $1,000, $50.00 per ounce apart for strike prices above $1,000. For the nearest six contract months, strike prices
will be $5.00, $10.00, and $25.00 apart, respectively.
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
OG
