What option chain would I look for if I wanted to buy a call for sweet crude oil?

Question

Hi, I am new to options. If I wanted to buy options for sweet crude oil, what ticker would I put in to find the options chain? If crude oil is at $146 and I wanted to buy 10 contracts, how much would that cost?

Thanks in advance.

Answer 1

If I'm not mistaken Crude oil futures options trade under the symbol LO.  The contract is in units of 1,000 barrels, with 42 gallons per barrel.  If the price is $146/bbl with 1,000 barrels per contract and 10 contracts it is $1,460,000 for what you want to do.  I know that's how they price futures contracts I'm pretty sure options are the same, someone correct me if I'm wrong.