- Trading Screen Product Name
- (RBOB) Gasoline Futures
- Trading Screen Hub Name
- NYH (RBOB)
- Hedge Instrument
The delta hedge for the RBOB Gasoline American-Style Option is the
RBOB Gasoline Future (UHU).
- Contract Symbol
N
- Contract Size
1,000 barrels
- Unit of Trading
Any multiple of 1,000 barrels
- Currency
US Dollars and cents
- Trading Price
One hundredth of a cent ($0.0001) per gallon
- Settlement Price
One hundredth of a cent ($0.0001) per gallon
- Minimum Price Fluctuation
One hundredth of a cent ($0.0001) per gallon
- Last Trading Day
Expiration occurs two days prior to the expiration of the
underlying ICE RBOB Futures Contract.
- Fixed Price
The traded price or the previous day's settlement price
- Floating Price
In respect of daily settlement, the Floating Price will be
determined by ICE using price data from a number of sources
including spot, forward and derivative markets for both physical
and financial products.
- Final Settlement
The RBOB Gasoline Futures Contract is cash settled against the
prevailing market price for RBOB Gasoline in New York Harbour. The
cash settlement price in USD and cents per Gallon is equal to the
penultimate settlement price for New York Harbor Gasoline
Blendstock (RBOB) Futures Contract as made public by NYMEX for each
Business Day in the determination period.
- Option Style
American style. Option exercise results in an underlying Futures
Contract in the related contract month.
- Strike Price Increments
This contract will support Custom Option Strikes with strikes in
increments of $0.001 within a range of $0.500 to $10.000. This
range may be revised from time to time according to future price
movements. The at-the-money strike price is the closest interval
nearest to the previous business day's settlement price of the
underlying contract.
- Expiry
ICE (NYH) RBOB Gasoline Options can be exercised into ICE (NYH)
RBOB Gasoline Futures contracts. ICE Futures Europe options
contracts are of American-style exercise, allowing the buyer to
exercise call and/or put options up to 17:00 (London time) hours on
any Business Day (except on expiry day) during the life of the
contracts, by giving an exercise notice to ICE Clear Europe in
respect of such options.
On expiry day, automatic exercise settings are pre-set to exercise
call and put option contracts that are one minimum price
fluctuation or more in-the-money and call option contracts which
are at-the-money with reference to the corresponding daily
settlement price at the designated settlement time as determined by
the Exchange. At-the-money put options will be abandoned.
- Option Premium / Daily Margin
Due to equity-style margining the premium on ICE RBOB Gasoline
Options is paid/received on the day following the day of trade.
Equity-Style Options have no daily Variation Margin payment. The
premium on the Equity-style Options is paid/received on the
business day following the day of trade. Net Liquidating Value
(NLV) will be re-calculated each business day based on the relevant
daily settlement prices. For buyers of options the NLV credit will
be used to off-set their Original Margin (OM) requirement; for
sellers of options, the NLV debit must be covered by cash or
collateral in the same manner as OM requirement.
- Contract Series
Up to 50 consecutive months
- Linked Future
Yes
- Business Days
ICE Business Days
- MIC Code
- IFEU
- Clearing Venues
- ICEU