Question re Time of Day of Expiration

Discussion in 'Energy Futures' started by jwcapital, Dec 13, 2010.

  1. Before I start trading light crude futures options, I have a question. First, I understand what day these options expire based on the contract month. But what time of day is the last trade accepted? Reasons for confusion: Globex trading hours 6:00 PM-5:15 PM EST. Floor 8:20AM to 1:30 PM. Settlements prices are quoted at 11:30PM. So, what time of day do these options expire? Thanks.
     
  2. JPope

    JPope

    Crude options settle based off the pit futures close on Wednesday at 230 EST.
     
  3. Appreciate the response. The crude options, though, expire three business days before the futures--it is statement correct? I know that the FEB11 futures expire January 20th, 2011 (Thursday). Therefore, the FEB11 futures options must expire on January 14, 2011--since the 17th is a holiday. Even so, I assume that the time of day of expiration is at 2:30PM EST. Thanks again.
     
  4. mickmak

    mickmak