Can someone tell me besides trading oil futures, is there an oil options or oil futures options which can be traded? If so, where are they listed? Thanks.
You can only trade the options in the pit during open outcry hours, which are M-F from 9:00 AM - 2:30 PM EST (the 9 o'clock start is new, it was 10 until 2-1-07). You'd have to have a broker, and if you don't know what you're doing you'll get your ass handed to you. With the increased volume of futures traded on the screen, the bid/offer in the ring has gotten much tighter. There is no competing platform for options, so those guys are still making good money as market makers. Don't expect to get intrinsic value, even on the last day of trading.