Trading Unit
One NYMEX Division natural gas futures contract.
Price Quotation
U.S. dollars and cents per mmBtu.
Trading Hours (All times are New York time)
Open outcry trading is conducted from 10:00 AM until 2:30
PM .
Trading Months
72 consecutive months.
Minimum Price Fluctuation
$0.001 (0.1¢) per mmBtu ($10.00 per contract).
Maximum Daily Price Fluctuation
No price limits.
Last Trading Day
Trading ends on the business day immediately preceding the
expiration of 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 increments of $0.05 (5¢) per
mmBtu above and below the at-the-money strike price in all
months, plus an additional 20 strike prices in increments
of $0.05 (5¢) per mmBtu above the at-the-money price
will be offered in the first three nearby months, and the
next 10 strike prices in increments of $0.25 (25¢) per
mmBtu above the highest and below the lowest existing strike
prices in all months for a total of at least 81 strike prices
in the first three nearby months and a total of at least 61
strike prices for four months and beyond. The at-the-money
strike price is nearest to the previous day's close of the
underlying futures contract. Strike price boundaries are adjusted
according to 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 paid. Trading Symbol
ON