futuresspecs

NYMEX · Energy · Futures

RBOB Gasoline Futures (RB)

NYMEX RBOB Gasoline (RB) is the US gasoline benchmark: 42,000 gallons, physically delivered in New York Harbor.

Tick size / value
0.0001 $/gal = $4.20
Point value
$420 / 1¢
Active contract
RBX26 Nov 2026
Next roll
Oct 23 in 24 days
Globex right now
Checking…
01

Contract specifications

Exchange
New York Mercantile Exchange (NYMEX, CME Group)
Underlying
Reformulated gasoline blendstock (RBOB)
Contract unit
42,000 gallons
Minimum tick
$0.0001 per gallon = $4.20 per contract
Point value
$420.00 per 1 cent per gallon · 100 ticks per 1¢
Price quotation
U.S. dollars and cents per gallon
Contract months
Monthly, all 12 months
Settlement
Physical delivery
Final settlement
Delivery in New York Harbor
Termination of trading
Trading terminates on the last business day of the month prior to the contract month
Globex code
RB

Source: CME Group contract specifications · reviewed Sep 30, 2026

02

Roll dates, first notice & expiration

ContractRoll dateFirst noticeLast trading dayDays left
RBV26 Oct 2026 Wed, Sep 23, 2026 n/a Wed, Sep 30, 2026 1
RBX26 Nov 2026 Active Fri, Oct 23, 2026 n/a Fri, Oct 30, 2026 31
RBZ26 Dec 2026 Fri, Nov 20, 2026 n/a Mon, Nov 30, 2026 62
RBF27 Jan 2027 Wed, Dec 23, 2026 n/a Thu, Dec 31, 2026 93
RBG27 Feb 2027 Fri, Jan 22, 2027 n/a Fri, Jan 29, 2027 122
RBH27 Mar 2027 Fri, Feb 19, 2027 n/a Fri, Feb 26, 2027 150

Roll. The date shown is five business days before the last trading day; volume usually moves to the next month around then.

First notice day. No separate first notice day – delivery is scheduled after the last trading day. Brokers require positions to be closed or rolled before expiry, usually several days earlier.

Last trading day. Last business day of the month before the contract month.

US exchange holidays ahead: Nov 26 · Dec 25 · Jan 1 · Jan 18 · Feb 15

Calculated from exchange rules and the US exchange holiday calendar. Confirm with the CME Group expiration calendar.

03

Trading hours (ET / CT)

SessionEastern (ET)Central (CT)Your time
CME Globex (electronic)Sun–Fri 6:00 p.m. – 5:00 p.m.Sun–Fri 5:00 p.m. – 4:00 p.m. –
Daily maintenance breakMon–Thu 5:00 – 6:00 p.m.Mon–Thu 4:00 – 5:00 p.m. –
US day session (reference)Mon–Fri 9:00 a.m. – 2:30 p.m.Mon–Fri 8:00 a.m. – 1:30 p.m. –
Daily settlement2:30 p.m.1:30 p.m. –

Holiday hours differ – check the exchange holiday calendar before trading around US holidays. ET is New York time, CT is Chicago time (always one hour behind ET).

04

Margins

CME Group maintenance margin per contract, outright position · as of Sep 30, 2026
ContractLong positionShort position
RBV26 Oct 2026 $9,299$8,256
RBX26 Nov 2026 Active $8,726$7,340
RBZ26 Dec 2026 $8,056$6,868
RBF27 Jan 2027 $7,618$6,364

Exchange margins are the minimum your clearing firm must collect for positions held overnight. Brokers may require more – and usually offer much lower day-trading margins for positions closed before the session ends. A neutral broker day-margin comparison is coming soon.

05

COT positioning

CFTC Disaggregated Report, futures only · positions as of Tue, Sep 22, 2026 · released Sep 25, 2026

Producers / Merchants

−92,812 net contracts

−1,339 vs. prior week · −25.7% of OI

COT Index 26 wk 29
COT Index 3 yr 29

Movement (6 wk): −3

Producers, merchants, processors and users hedging physical business – the classic commercials. They tend to buy weakness and sell strength.

Swap Dealers

+8,263 net contracts

−5,413 vs. prior week · +2.3% of OI

COT Index 26 wk 41
COT Index 3 yr 38

Movement (6 wk): −31

Swap dealers – banks hedging OTC swaps, including commodity index money. Often structurally positioned; read against their own range, not the sign.

Managed Money

+96,038 net contracts

+12,867 vs. prior week · +26.6% of OI

COT Index 26 wk 100
COT Index 3 yr 96

Movement (6 wk): +28

Managed money – CTAs, commodity pools and hedge funds. Trend followers; their positioning tends to peak near turning points.

Net positions, last 3 years contracts, long minus short
Producers / MerchantsSwap DealersManaged Money
COT Index, 3-year window 0 = most net short in 3 years, 100 = most net long · shaded: extreme zones
Producers / MerchantsManaged Money
Disaggregated Report · open interest 361,099 (+3,096 w/w)
GroupLongShortNet Δ 1 wkΔ 4 wkIndex 26 wkIndex 3 yrMove 6 wk
Producers / Merchants 88,020180,832−92,812 −1,339+2,710 2929−3
Swap Dealers 52,33244,069+8,263 −5,413−8,050 4138−31
Managed Money 108,32412,286+96,038 +12,867+16,386 10096+28
Other Reportables 10,35037,263−26,913 −6,663−11,420 00−9
Nonreportables 27,51312,089+15,424 +548+374 9388+14
Legacy Report · open interest 361,099 (+3,096 w/w) · WILLCO (26 wk, commercials vs. OI): 22
GroupLongShortNet Δ 1 wkΔ 4 wkIndex 26 wkIndex 3 yrMove 6 wk
Commercials 153,580238,129−84,549 −6,752−5,340 1027−18
Non-Commercials 118,67449,549+69,125 +6,204+4,966 8463+16
Nonreportables (small) 27,51312,089+15,424 +548+374 9388+14
Weekly net positions, last 12 reports (Disaggregated Report)
Report dateProducers / MerchantsSwap DealersManaged MoneyOther ReportablesNonreportablesOpen interest
Sep 22, 2026−92,812+8,263+96,038−26,913+15,424361,099
Sep 15, 2026−91,473+13,676+83,171−20,250+14,876358,003
Sep 8, 2026−102,029+14,603+92,848−19,656+14,234365,028
Sep 1, 2026−100,969+18,432+89,215−19,590+12,912353,876
Aug 25, 2026−95,522+16,313+79,652−15,493+15,050346,134
Aug 18, 2026−90,626+20,137+74,081−16,237+12,645335,534
Aug 11, 2026−89,712+23,070+69,851−15,551+12,342325,194
Aug 4, 2026−94,676+24,377+69,885−11,578+11,992304,431
Jul 28, 2026−96,118+23,339+73,877−11,608+10,510321,258
Jul 21, 2026−94,159+21,354+73,707−12,713+11,811330,490
Jul 14, 2026−93,100+24,447+68,725−10,740+10,668324,652
Jul 7, 2026−92,069+25,041+71,249−13,025+8,804316,181
How to read these numbers
  • Net position = long minus short contracts (spread positions excluded).
  • COT Index = where today's net position sits within its range over the window: 100 × (net − min) / (max − min). It is a stochastic, not a percentile. Readings above 80 or below 20 are commonly treated as positioning extremes (after Stephen Briese and Larry Williams).
  • Movement Index = change of the 3-year COT Index over 6 weeks. Moves of ±40 points mark unusually fast repositioning.
  • WILLCO (Legacy report) = COT Index of commercials' net position as a share of open interest, 26-week window.
  • Positions are as of Tuesday and released Friday at 3:30 p.m. ET. COT data shows positioning, not timing – it is context, not a trading signal. Open-interest-based indicators are left out for stock index futures because quarterly expirations distort open interest.

Source: CFTC Public Reporting Environment · contract market code 111659 (GASOLINE RBOB - NEW YORK MERCANTILE EXCHANGE)

06

RB profit & loss calculator

Price change– Ticks– Profit / loss–

Before commissions and exchange fees. Prices round to the nearest tick of 0.0001.

07

FAQ

What is the tick value of RB futures?

One tick is $0.0001 per gallon, worth $4.20 per contract. A 1-cent move is worth $420.

When do RB futures expire?

On the last business day of the month before the delivery month.

What does the COT Index show?

The COT Index places a group's current net position within its own range over a lookback window: 100 = the most net long in that window, 0 = the most net short. It measures positioning extremes, not timing.