This market will resolve to "Up" if, on Thursday, January 22, 2026, the official CME settlement price for the Active Month (front month) of Crude Oil (CL) futures is higher than the previous trading day's official settlement price for the same Active Month contract.

This market will resolve to "Down" if, on Thursday, January 22, 2026, the official CME settlement price for the Active Month (front month) of Crude Oil (CL) futures is lower than the previous trading day's official settlement price for the same Active Month contract.

For CME Crude Oil (CL) futures contracts, the active month is the nearest of the contract months listed. The active month becomes a non-active month effective two business days prior to the spot month expiration. For example; if the spot month expires on a Friday the next listed contract will be considered the Active Month on the Wednesday prior to the spot month expiration.

Only the Active Month's official settlement price published by CME Group will be considered. Intraday trades, highs, lows, bids, offers, midpoint values, or indicative prices do not count.

Note that the settlement price may differ from the last traded price. CME's methodology to determine the settlement price can vary by commodity and contract.

This market will resolve based on the settlement price as it appears on the CME settlement page at the time it is first published for that trading day, regardless of any later corrections or updates. If CME does not publish the settlement price for the listed trading day by 11:59 PM ET of the next trading day, this market will resolve to 50-50.

If the Active Month changes between the previous trading day and Thursday, January 22, 2026, the market will continue using the same contract month used on the previous trading day for the purposes of determining whether the settlement price moved up or down.

The resolution source for this market is the CME Group website — specifically, the daily "Settlement" price for the Active Month of Crude Oil (CL) futures.