Product sheet | B3

Options on Cash Settled Hydrous Ethanol Futures

  • UnderlyingHydrous ethanol fuel contract, in accordance with the technical specifications defined by the National Petroleum Agency (ANP).
    TickerETH
    Option styleAmerican.
    Contract size30m³ (corresponding to 30,000 liters).
    QuotationPremium quotation expressed in Brazilian Reals per cubic meters to two decimal places.
    Tick sizeBRL0.01.
    Round-lot1 contract.
    Last trading dayThe business day preceding the expiration date.
    Expiration dateThe last business day of the contract month
    Contract monthsAll months.
    Option exerciseOn the expiration date, the option exercise is performed automatically by B3, subject to the following conditions:
    Call option (call):
    a) If the result of the difference between the settlement price of the contract object and the exercise price for the principal owner, is positive; and
    b) the principal holder does not register on the trading system its intention not to exercise its call on the expiration date.
    Put option (put):
    a) If the result of the difference between the exercise price and the settlement price of the contract subject to the principal owner, is positive; and
    b) the principal holder does not register on the trading system its intention not to exercise its put on the expiration date.