Underlying

INE Copper Cathode Futures (BC) Contract (5 metric tons)

Contract Type

Call option and put option

Contract Size

1 BC contract

Price Quotation

(RMB) Yuan/ton

Minimum Price Fluctuation

2 Yuan/ton

Daily Price Limit

Same as that for the BC contract

Listed Contracts

Option contracts will be listed for the nearest two consecutive months and, when the open interest of the underlying futures contract after daily clearing reaches a specific threshold separately announced by INE, for later months on the second trading day thereafter

Trading Hours

9:00 a.m. to 11:30 a.m., 1:30 p.m. to 3:00 p.m., and other hours specified by INE

Last Trading Day

The five-to-last trading day of the month before the delivery month of the underlying BC contract (subject to adjustment by INE in case of a national holiday and other special circumstances)

Expiration Date

Same as the last trading day

Strike Price

The range of strike price is the previous trading day’s settlement price of the BC contract plus or minus 1.5 times the current day’s price limit. The strike price interval is 500 Yuan/ton if strike price ≤ 50000Yuan/ton; 1000 Yuan/ton if 50000 Yuan/ton < strike price ≤ 100000 Yuan/ton; 2000 Yuan/ton if strike price > 100000 Yuan/ ton

Option Style

American style. Buyers may submit an exercise request during trading hours on any trading day before the expiration date and an exercise or abandonment request before 3:30 p.m. on the expiration date

Contract Symbol

Call option: BC-Contract Month-C-Strike Price

Put option: BC-Contract Month-P-Strike Price

Listing Exchange

Shanghai International Energy Exchange (INE)