Trading Unit
One NYMEX Division New York harbor heating oil futures contract
(42,000 gal.)
Price Quotation
U.S. dollars and cents per gallon.
Trading Hours (All times are New York Time)
Open outcry trading is conducted from 10:05 AM until 2:30
PM.
Trading Months
18 consecutive months
Minimum Price Fluctuation
$0.0001 (0.01¢) per gallon ($4.20 per contract).
Maximum Daily Price Fluctuation
No price limits.
Last Trading Day
Trading ends three business days before the underlying futures
contract
Exercise of Options
By a clearing member to the Exchange clearinghouse not later
than 5:30 PM or 45 minutes after the underlying futures settlement
price is posted, whichever is later, on any day up to and
including the options expiration.
Strike Prices
Twenty strike prices in $0.01 (1¢) per gallon increments
above and below the at-the-money strike price, and the next
10 strike prices in $0.05 (5¢) increments above the highest
and below the lowest existing strike prices for a total of
at least 61 strike prices. The at-the-money strike price is
the nearest to the previous day's close of the underlying
futures contract. Strike price boundaries are adjusted according
to the futures price movements.
Margin Requirements
Margins are required for open short options positions. The
margin requirement for an options purchaser will never exceed
the premium. Trading Symbol
HO